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PCG

PG&E

$24.39

6.62 (37.25%)

18:23
11/16/18
11/16
18:23
11/16/18
18:23

CPUC isn't ruling out board shuffle, breakup for PG&E, Bloomberg says

The California Public Utilities Commission singled out PG&E's board as a hindrance to reform and won't rule out carving up the company as officials launch a deep corporate review in the wake of California's deadliest wildfire, Bloomberg reports. "It's hard to know from outside how far the structural changes need to go," CPUC president Michael Picker told Bloomberg in an interview.

PCG PG&E
$24.39

6.62 (37.25%)

11/16/18
SBSH
11/16/18
UPGRADE
Target $40
SBSH
Buy
Citi upgrades PG&E to Buy saying CPUC stepped up 'bigtime'
Citi analyst Praful Mehta upgraded PG&E to Buy from Neutral while lowering his price target for the shares to $40 from $48. In a statement yesterday, the California Public Utilities Commission indicated that it will apply a cap when evaluating wildfire-related expenses, including the 2018 fires, Mehta tells investors in a research note partially titled "CPUC Steps-Up Bigtime." The analyst does not think the CPUC would be "taking this aggressive step to support the utilities" without some support from the legislative side. He upgrades PG&E following the recent selloff in the shares. The stock closed yesterday down 31%, or $7.85, to $17.74. This morning, however, the shares are up 51%, or $8.96, to $26.70 in premarket trading.
11/16/18
ARGS
11/16/18
NO CHANGE
Target $36
ARGS
Buy
PG&E price target lowered to $36 from $54 at Argus
Argus analyst Jacob Kilstein lowered his price target on PG&E (PCG) to $36 after the latest report suggesting that the California wildfire may have been started by its faulty utility equipment. The analyst points to the company's stock price decline of 50% over the past week and 75% since mid-2017 on concerns that it may be responsible for over $30B in damages. Kilstein keeps his Buy rating on PG&E however and raises his FY19 EPS view to $4.13 from $3.94, noting that the $26B market cap decline is likely an "overreaction" that offers a "favorable buying opportunity". The analyst adds that his price target assumes a forward earnings multiple of 8.7-times, which is still below its closest peer with California exposure - Edison International's (EIX) 10.9-times.
11/16/18
SBSH
11/16/18
UPGRADE
Target $59
SBSH
Buy
Citi upgrades Edison International to Buy following CPUC statement
Citi analyst Praful Mehta upgraded Edison International (EIX) to Buy from Neutral while lowering his price target for the shares to $59 from $72. In a statement yesterday, the California Public Utilities Commission indicated that it will apply a cap when evaluating wildfire-related expenses, including the 2018 fires, Mehta tells investors in a research note partially titled "CPUC Steps-Up Bigtime." The analyst does not think the CPUC would be "taking this aggressive step to support the utilities" without some support from the legislative side. Mehta also upgraded PG&E (PCG) to Buy from Neutral citing a similar rationale.
11/16/18
11/16/18
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Qualcomm (QCOM) upgraded to Equal Weight from Underweight at Morgan Stanley with analyst James Faucette saying he thinks consensus estimates now imply a more realistic scenario for QCT margins and that lowered expectations on a resolution with Apple (AAPL) gives room for the stock to react positively should legal proceedings trigger a settlement. 2. Spark Therapeutics (ONCE) upgraded to Neutral from Underperform at Credit Suisse with analyst Martin Auster saying with uniQure's (QURE) update validating AMT-061, its second generation hemophilia B gene therapy construct incorporating the Padua variant, and Freeline's initial data disclosed in ASH abstracts, he sees a more competitive landscape in hemophilia B gene therapy, and lowered his market share assumptions for SPK-9001 to reflect this new dynamic. 3. Armstrong Flooring (AFI) upgraded to Buy from Hold at Gabelli with analsyt Alvaro Lacayo saying the sale of the wood business is a transformative deal and removes two underperforming segments that have been under increased pressure from private label competition. 4. DSW (DSW) upgraded to Neutral from Negative at Susquehanna. 5. PG&E (PCG) and Edison International (EIX) were upgraded to Buy from Neutral at Citi. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

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AMZN

Amazon.com

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KR

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0.22 (0.86%)

WMT

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$103.15

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TGT

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UNH

UnitedHealth

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ANTM

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CI

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HUM

Humana

$240.65

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CVS

CVS Health

$52.62

0.08 (0.15%)

T

AT&T

$32.04

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SPOT

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$139.53

1.88 (1.37%)

SAM

Boston Beer

$266.90

0.89 (0.33%)

PINS

Pinterest

$24.46

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INGN

Inogen

$78.70

-1.27 (-1.59%)

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KR

Kroger

$25.78

0.22 (0.86%)

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Amazon.com

$1,862.11

-2.52 (-0.14%)

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KR

Kroger

$25.78

0.22 (0.86%)

AMZN

Amazon.com

$1,862.11

-2.52 (-0.14%)

WMT

Walmart

$103.15

0.02 (0.02%)

TGT

Target

$83.23

0.51 (0.62%)

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T

AT&T

$32.04

0.09 (0.28%)

, CMCSA

Comcast

$42.43

-0.16 (-0.38%)

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T

AT&T

$32.04

0.09 (0.28%)

CMCSA

Comcast

$42.43

-0.16 (-0.38%)

CMCSK

Comcast

$0.00

(0.00%)

SNE

Sony

$47.86

0.09 (0.19%)

LGF.A

Lionsgate

$15.91

0.1 (0.63%)

DIS

Disney

$132.44

0.68 (0.52%)

VIAB

Viacom

$30.19

-0.35 (-1.15%)

VIA

Viacom

$36.39

-0.35 (-0.95%)

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FCAU

Fiat Chrysler

$16.47

-0.2 (-1.20%)

12:23
04/21/19
04/21
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12:23
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Fiat Chrysler recalling 300,000 cars over cable problem, Bloomberg says »

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TSLA

Tesla

$273.25

2.13 (0.79%)

12:08
04/21/19
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Investors set to get a peek at Tesla driverless car technology, WSJ says »

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SPY

SPDR S&P 500 ETF Trust

$289.99

0.52 (0.18%)

, SPX

S&P 500

$0.00

(0.00%)

12:03
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Bombs kill over 200 in Sri Lankan churches, hotels, Reuters says »

Over 200 people were…

SPY

SPDR S&P 500 ETF Trust

$289.99

0.52 (0.18%)

SPX

S&P 500

$0.00

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BA

Boeing

$380.02

2.48 (0.66%)

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BA

Boeing

$380.02

2.48 (0.66%)

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BA

Boeing

$380.02

2.48 (0.66%)

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MSM

MSC Industrial

$83.37

-0.44 (-0.52%)

04:55
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PINS

Pinterest

$24.46

(0.00%)

13:04
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HUM

Humana

$240.65

7.645 (3.28%)

, CI

Cigna

$148.95

3.46 (2.38%)

12:51
04/20/19
04/20
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Periodicals
Health insurers stocks now look like a buy, Barron's says »

Investing in health…

HUM

Humana

$240.65

7.645 (3.28%)

CI

Cigna

$148.95

3.46 (2.38%)

ANTM

Anthem

$239.63

3.38 (1.43%)

UNH

UnitedHealth

$221.74

4.93 (2.27%)

CVS

CVS Health

$52.62

0.08 (0.15%)

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TSLA

Tesla

$273.25

2.13 (0.79%)

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AMD

AMD

$27.68

0.18 (0.65%)

, INTC

Intel

$58.49

-0.08 (-0.14%)

12:43
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Wall Street cheered Intel decision to exit 5G modem business, Barron's says »

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AMD

AMD

$27.68

0.18 (0.65%)

INTC

Intel

$58.49

-0.08 (-0.14%)

QCOM

Qualcomm

$79.89

0.8 (1.01%)

AAPL

Apple

$203.83

0.69 (0.34%)

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SAM

Boston Beer

$266.90

0.89 (0.33%)

12:37
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'Happy hour' might be over for Boston Beer, Barron's says »

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SPOT

Spotify

$139.53

1.88 (1.37%)

12:30
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Spotify stock 'risky' as music industry not changing fast enough, Barron's says »

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BA

Boeing

$380.02

2.48 (0.66%)

, HRL

Hormel Foods

$40.38

-0.37 (-0.91%)

08:33
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On The Fly
Week in review: How Trump's policies moved stocks »

Catch up on the top…

BA

Boeing

$380.02

2.48 (0.66%)

HRL

Hormel Foods

$40.38

-0.37 (-0.91%)

PPC

Pilgrim's Pride

$25.79

0.03 (0.12%)

SAFM

Sanderson Farms

$141.70

-2.17 (-1.51%)

TSN

Tyson Foods

$73.49

0.2 (0.27%)

CCL

Carnival

$53.64

-0.92 (-1.69%)

RCL

Royal Caribbean

$121.00

-2.245 (-1.82%)

NCLH

Norwegian Cruise Line

$56.93

-0.925 (-1.60%)

WFTBF

West Fraser Timber

$0.00

(0.00%)

IFSPF

Interfor

$0.00

(0.00%)

CFPZF

Canfor

$0.00

(0.00%)

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MSM

MSC Industrial

$83.37

-0.44 (-0.52%)

04:55
04/20/19
04/20
04:55
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04:55
Conference/Events
MSC Industrial management to meet with William Blair »

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KFS

Kingsway Financial

$2.30

-0.14 (-5.74%)

19:48
04/19/19
04/19
19:48
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19:48
Hot Stocks
Kingsway Financial announces receipt of notification letter from NYSE »

Kingsway Financial…

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AWK

American Water

$104.63

2.32 (2.27%)

19:46
04/19/19
04/19
19:46
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19:46
Hot Stocks
American Water signs contract to acquire East Pasadena Water Company »

California American…

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FSNN

Fusion

$0.24

0.0048 (2.01%)

19:45
04/19/19
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19:45
Hot Stocks
Fusion sees being delisted following receipt of Nasdaq delisting notice »

Fusion announced that it…

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PSA

Public Storage

$217.43

0.81 (0.37%)

19:42
04/19/19
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19:42
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19:42
Hot Stocks
Public Storage announces change of Chief Legal Officer »

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V

Visa

$160.14

-0.33 (-0.21%)

19:40
04/19/19
04/19
19:40
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19:40
Hot Stocks
Visa board elects Visa CEO Al Kelly as Chair »

Visa announced that its…

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NAVB

Navidea

$0.17

0.0001 (0.06%)

19:39
04/19/19
04/19
19:39
04/19/19
19:39
Hot Stocks
Navidea announces one-for-twenty reverse stock split »

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