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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

TMUS

T-Mobile

$72.68

-0.67 (-0.91%)

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Sprint

$5.61

-0.01 (-0.18%)

07:39
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07:39
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T-Mobile, Sprint analyst commentary  »

T-Mobile price target…

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T-Mobile

$72.68

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Sprint

$5.61

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PRO

Pros Holdings

$45.06

-0.25 (-0.55%)

07:37
04/26/19
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Pros Holdings analyst commentary  »

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PFPT

Proofpoint

$131.35

3.56 (2.79%)

07:36
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04/26
07:36
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07:36
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Proofpoint analyst commentary at KeyBanc »

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CELG

Celgene

$93.93

0.82 (0.88%)

, XLRN

Acceleron

$41.19

0.62 (1.53%)

07:36
04/26/19
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Celgene Corporation…

CELG

Celgene

$93.93

0.82 (0.88%)

XLRN

Acceleron

$41.19

0.62 (1.53%)

03/08/13
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ACB

Aurora Cannabis

$9.07

-0.045 (-0.49%)

07:36
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04/26
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07:36
Hot Stocks
Aurora Cannabis makes $10M equity investment in EnWave »

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ANET

Arista Networks

$318.30

-7.02 (-2.16%)

07:35
04/26/19
04/26
07:35
04/26/19
07:35
Recommendations
Arista Networks analyst commentary at Nomura Instinet »

Arista Networks price…

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AAL

American Airlines

$33.36

-0.64 (-1.88%)

07:35
04/26/19
04/26
07:35
04/26/19
07:35
Earnings
American Airlines lowers FY19 adj. EPS view to $4.00-$6.00 from $5.50-$7.50 

Consensus $5.63.

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FB

Facebook

$193.23

10.59 (5.80%)

, INTC

Intel

$57.59

-1.13 (-1.92%)

07:35
04/26/19
04/26
07:35
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07:35
Options
Unusual call flow in option market yesterday »

Notable call activity was…

FB

Facebook

$193.23

10.59 (5.80%)

INTC

Intel

$57.59

-1.13 (-1.92%)

MRVL

Marvell

$25.42

-0.03 (-0.12%)

APC

Anadarko

$71.76

0.35 (0.49%)

OXY

Occidental Petroleum

$61.81

-0.19 (-0.31%)

ZNGA

Zynga

$5.47

-0.115 (-2.06%)

GT

Goodyear Tire

$19.56

-0.54 (-2.69%)

CARA

Cara Therapeutics

$19.39

0.335 (1.76%)

RSG

Republic Services

$79.46

0.16 (0.20%)

03/08/13
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07:34
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07:34
Conference/Events
FDA Anti-Microbial Drugs Advisory Committee to hold a meeting »

The Committee discusses…

AVGO

Broadcom

$311.99

-2.11 (-0.67%)

, QRVO

Qorvo

$77.33

0.09 (0.12%)

07:34
04/26/19
04/26
07:34
04/26/19
07:34
Recommendations
Broadcom, Qorvo analyst commentary  »

Broadcom price target…

AVGO

Broadcom

$311.99

-2.11 (-0.67%)

QRVO

Qorvo

$77.33

0.09 (0.12%)

03/08/13
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  • 07

    May

AAL

American Airlines

$33.36

-0.64 (-1.88%)

07:33
04/26/19
04/26
07:33
04/26/19
07:33
Earnings
American Airlines reports Q1 adj. EPS 52c, consensus 51c »

Reports Q1 revenue…

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QRVO

Qorvo

$77.33

0.09 (0.12%)

, AVGO

Broadcom

$311.99

-2.11 (-0.67%)

07:32
04/26/19
04/26
07:32
04/26/19
07:32
Downgrade
Qorvo, Broadcom rating change  »

Qorvo downgraded to…

QRVO

Qorvo

$77.33

0.09 (0.12%)

AVGO

Broadcom

$311.99

-2.11 (-0.67%)

03/08/13
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  • 07

    May

IMAX

Imax

$25.05

0.02 (0.08%)

07:31
04/26/19
04/26
07:31
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07:31
Earnings
Imax reports Q1 adjusted EPS 18c, consensus 18c »

Reports Q1 revenue…

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  • 26

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AMZN

Amazon.com

$1,902.53

1.81 (0.10%)

07:30
04/26/19
04/26
07:30
04/26/19
07:30
Recommendations
Amazon.com analyst commentary at Barclays »

Amazon.com price target…

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  • 10

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AJG

Arthur J. Gallagher

$82.75

0.68 (0.83%)

07:30
04/26/19
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07:30
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Arthur J. Gallagher analyst commentary at SunTrust »

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  • 14

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SFUN

Fang Holdings

$1.62

0.08 (5.19%)

07:30
04/26/19
04/26
07:30
04/26/19
07:30
Earnings
Breaking Earnings news story on Fang Holdings »

Fang Holdings sees FY18…

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  • 26

    Apr

SAVE

Spirit Airlines

$52.91

-5.39 (-9.25%)

07:30
04/26/19
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07:30
04/26/19
07:30
Recommendations
Spirit Airlines analyst commentary at Stephens »

Spirit Airlines issues…

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  • 14

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SWN

Southwestern Energy

$4.03

-0.13 (-3.13%)

, YPF

YPF

$13.70

-0.29 (-2.07%)

07:30
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Unusual put flow in option market yesterday »

Notable put activity was…

SWN

Southwestern Energy

$4.03

-0.13 (-3.13%)

YPF

YPF

$13.70

-0.29 (-2.07%)

WAB

Wabtec

$71.41

-5.16 (-6.74%)

MAS

Masco

$37.50

-2.48 (-6.20%)

ODFL

Old Dominion

$152.25

-6.74 (-4.24%)

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AMZN

Amazon.com

$1,902.53

1.81 (0.10%)

07:29
04/26/19
04/26
07:29
04/26/19
07:29
Recommendations
Amazon.com analyst commentary at Wedbush »

Amazon.com price target…

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SFUN

Fang Holdings

$1.62

0.08 (5.19%)

07:28
04/26/19
04/26
07:28
04/26/19
07:28
Earnings
Fang Holdings reports Q4 non-GAAP EPS 2c vs. 5c last year »

Reports Q4 revenue…

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  • 26

    Apr

APD

Air Products

$199.63

0.13 (0.07%)

07:27
04/26/19
04/26
07:27
04/26/19
07:27
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Air Products analyst commentary  »

Air Products price target…

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TSCO

Tractor Supply

$105.09

1 (0.96%)

07:26
04/26/19
04/26
07:26
04/26/19
07:26
Recommendations
Tractor Supply analyst commentary at Wedbush »

Tractor Supply price…

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  • 09

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HFWA

Heritage Financial

$30.77

-0.6 (-1.91%)

07:26
04/26/19
04/26
07:26
04/26/19
07:26
Downgrade
Heritage Financial rating change  »

Heritage Financial…

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  • 01

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    May

CARO

Carolina Financial

$36.08

-0.83 (-2.25%)

07:25
04/26/19
04/26
07:25
04/26/19
07:25
Downgrade
Carolina Financial rating change at Sandler ONeill »

Carolina Financial…

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