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PCG

PG&E

$32.70

-0.25 (-0.76%)

20:22
11/13/18
11/13
20:22
11/13/18
20:22

PG&E downgraded to Sell from Hold at Edward Jones

Edward Jones analyst Andrew Smith downgraded PG&E to Sell from Hold.

PCG PG&E
$32.70

-0.25 (-0.76%)

09/06/18
09/06/18
NO CHANGE

Fly Intel: Today's top analyst calls on Wall Street
Check out today's top analyst calls from around Wall Street, compiled by The Fly. ANALYSTS WEIGH IN ON MICRON: Despite recent softness in DRAM spot pricing, the more appropriate metric for Micron Technology (MU) investors to focus on is gross margin, Deutsche Bank analyst Sidney Ho said. On gross margin, the analyst sees Micron benefiting from "solid cost improvement through technology transition" in fiscal 2019. Further, he believes the DRAM market has become more diverse, which should help offset temporary weakness in any given end market. As the company continues to execute on its technology roadmap and delivers solid operating results, Ho expects Micron's stock valuation to re-rate. He kept a Buy rating and $80 price target on Micron. However, Baird analyst Tristan Gerra said Micron is no longer a top large-cap idea, citing its valuation and the likelihood gross margins may be nearing their peak. He also noted DRAM pricing is likely peaking and NAND is in significant oversupply. Gerra maintained an Outperform rating but lowered his price target to $75 from $100 on Micron shares. ARGUS UPGRADES PG&E TO BUY: Argus analyst Jacob Kilstein upgraded PG&E (PCG) to Buy from Hold with a price target of $54, saying the company's recent California legislative victory will reduce its liability for last year's wildfire as its earnings outlook improves. Kilstein further anticipates PG&E to announce a timeline regarding its dividend reinstatement after being forced to suspend its quarterly payout on concerns about its potential wildfire damage responsibility estimated as high as $12B. NORTHLAND DOWNGRADES TILRAY TO MARKET PERFORM: Northland analyst Mike Grondahl downgraded Tilray (TLRY) to Market Perform from Outperform. While he continues to see the company playing a "huge role" in the recreational-use cannabis market in Canada and other countries and the medical market in Europe, he also believes the risk/reward is far more balanced following the recent "massive" move in the stock. JPMORGAN CUTS FRANKLIN RESOURCES TO UNDERWEIGHT: JPMorgan analyst Kenneth Worthington downgraded Franklin Resources (BEN) to Underweight from Neutral and lowered his price target for the shares to $29 from $32. The analyst believes the more recent weakness in emerging markets, and in particular in emerging market debt, will weigh on both Franklin's organic growth and earnings potential. He thinks challenges in emerging markets put additional pressure on "an already challenging growth story characterized by weak fund performance, significant outflows, and declining margins." Worthington continues to have a negative view on the asset management sector.
10/10/18
MSCO
10/10/18
NO CHANGE
Target $66
MSCO
Overweight
PG&E shareholders unlikely to be liable for Cascade damages, says Morgan Stanley
After Cal Fire issued a press release yesterday detailing its findings that the Cascade fire was started by sagging PG&E power lines, but noted that it found no evidence of any violations by the utility, Morgan Stanley analyst Stephen Byrd said he believes the estimated $400M-$450M of associated costs should be recoverable from utility customers and should not impact shareholders. Noting that the incident report filed by PG&E for the Cascade fire shares similarities with the Tubbs fire incident report, Byrd added that he views the Cal Fire report having a potentially positive read-across to the Tubbs fire, which was the largest in the 2017 NorCal fires and the last investigation remaining. Byrd keeps an Overweight rating and $66 price target on PG&E shares.
11/09/18
SBSH
11/09/18
NO CHANGE
Target $48
SBSH
Neutral
PG&E exposure to California fires uncertain, says Citi
Citi analyst Praful Mehta kept his Neutral rating and $48 price target on PG&E, saying today's 16% decline in the stock price may be an "over-reaction" but also cautions that investors are dealing with "Risk of the Unknown". The analyst notes that the "structures damaged" is his best gauge for the extent of dollar damage, stating that the current reports suggest that the damages may be higher than the $15B estimated under the 2017 wildfires. The analyst adds that the SB-901 legislation doesn't cover the 2018 fires as its cost cap is only applicable for the 2017 fire, putting PG&E into legislative uncertainty on whether it would be expanded to cover the 2018 fires as well.
11/12/18
MSCO
11/12/18
NO CHANGE
MSCO
Morgan Stanley estimates $2B-$4B in insured losses from Camp Fire
Morgan Stanley analysts Kai Pan and Stephen Byrd estimate $2B-$4B in insured losses from the Camp Fire, adding that total economic losses will be higher but insurance penetration is very high as fire losses are covered under standard homeowners polices. Given the incident report issued by PG&E (PCG) and other reports, the focus currently appears to be on PG&E equipment, the analysts added. In a bearish case, damage from the Camp Fire spreads and PG&E shareholders are fully liable for all damages, fully liable for 2017 wildfires, and there is a permanent 30% discount to peers, in which case Pan and Byrd believe PG&E stock would be valued at $37 per share. In a "moderate" case, they assign a 75% probability of full shareholder liability for Camp Fire damages, damages grow by 25% from the current level, and the stock trades at a permanent 15% discount to peers, in which case they believe PG&E would be valued at $59 per share. Pan and Byrd believe PG&E shares now reflect $17B for 2017-18 fires plus a permanent 25% discount to peers. In terms of Edison International (EIX), the analyst sees $5B for 2017-18 fires plus a permanent 20% discount to peers being reflected in the stock. In the bearish case, they see Edison being valued at $57 per share and in the moderate case they see it valued at $70 per share.

TODAY'S FREE FLY STORIES

ST

Sensata

$51.32

0.82 (1.62%)

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MDR

McDermott

$9.91

-0.58 (-5.53%)

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STLD

Steel Dynamics

$33.99

-0.16 (-0.47%)

07:01
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HNI

HNI Corporation

$38.38

0.1 (0.26%)

06:57
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TSM

TSMC

$45.38

1.01 (2.28%)

06:56
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TSMC CEO says 7nm utilization rate to rise in 2H19, Digitimes reports »

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HNI

HNI Corporation

$38.38

0.1 (0.26%)

06:55
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Earnings
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BMS

Bemis

$55.45

-0.37 (-0.66%)

06:55
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EGRX

Eagle Pharmaceuticals

$47.81

0.67 (1.42%)

06:54
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Eagle Pharma announces CMS established unique J-code for BELRAPZO »

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LLY

Eli Lilly

$115.20

-1.23 (-1.06%)

06:53
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Eli Lilly announces Taltz meets primary, secondary endpoints in COAST-X study »

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CBU

Community Bank System

$62.22

-1.385 (-2.18%)

06:51
04/22/19
04/22
06:51
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06:51
Earnings
Community Bank System reports Q1 operating EPS 81c, consensus 76c »

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  • 22

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TSLA

Tesla

$273.25

2.13 (0.79%)

, PCRFY

Panasonic

$0.00

(0.00%)

06:51
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06:51
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06:51
Periodicals
Tesla CEO takes on Panasonic in public dispute with key supplier, Bloomberg says »

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Tesla

$273.25

2.13 (0.79%)

PCRFY

Panasonic

$0.00

(0.00%)

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HAL

Halliburton

$31.12

-0.47 (-1.49%)

06:49
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Hot Stocks
Halliburton CEO says 'results for the first quarter played out as we expected' »

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BOH

Bank of Hawaii

$80.76

-1.16 (-1.42%)

06:48
04/22/19
04/22
06:48
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06:48
Earnings
Bank of Hawaii reports Q1 EPS $1.43, consensus $1.36 »

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MRK

Merck

$73.19

-0.69 (-0.93%)

06:48
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Merck: FDA approves KEYTRUDA in combination with Inlyta »

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HAL

Halliburton

$31.12

-0.47 (-1.49%)

06:45
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Earnings
Halliburton reports Q1 adjusted EPS 23c, consensus 22c »

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General news
FX Update: The dollar majors have been plying narrow ranges »

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HOG

Harley-Davidson

$40.91

-0.14 (-0.34%)

06:44
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Recommendations
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  • 23

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JEC

Jacobs Engineering

$76.93

0.22 (0.29%)

, KEYW

KEYW

$7.85

-0.005 (-0.06%)

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Jacobs Engineering to acquire KeyW for $11.25 per share in cash »

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Jacobs Engineering

$76.93

0.22 (0.29%)

KEYW

KEYW

$7.85

-0.005 (-0.06%)

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NSANY

Nissan

$0.00

(0.00%)

06:39
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Periodicals
Carlos Ghosn indicted on additional charges in Japan, WSJ reports »

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PREKF

PrairieSky Royalty

$0.00

(0.00%)

06:39
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06:39
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06:39
Conference/Events
PrairieSky Royalty management to meet with TD Securities »

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KRA

Kraton

$36.45

0.03 (0.08%)

06:35
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Kraton appoints Atanas Atanasov as CFO »

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LLY

Eli Lilly

$115.20

-1.23 (-1.06%)

06:34
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Eli Lilly announces licensing, research collaboration with Avidity »

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NGD

New Gold

$0.86

-0.0141 (-1.61%)

06:34
04/22/19
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06:34
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Conference/Events
New Gold management to meet with TD Securities »

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  • 25

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UBER

Uber

$0.00

(0.00%)

, LYFT

Lyft

$58.31

-1.11 (-1.87%)

06:32
04/22/19
04/22
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Periodicals
Uber, Lyft IPOs could cause higher fares, WSJ reports »

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UBER

Uber

$0.00

(0.00%)

LYFT

Lyft

$58.31

-1.11 (-1.87%)

03/08/13
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  • 07

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ONB

Old National Bancorp

$16.85

-0.28 (-1.63%)

06:32
04/22/19
04/22
06:32
04/22/19
06:32
Earnings
Old National Bancorp reports Q1 adjusted EPS 33c, consensus 31c »

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