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LYB

LyondellBasell

$92.75

-0.02 (-0.02%)

, BP

BP

$40.30

-0.62 (-1.52%)

10:16
11/20/18
11/20
10:16
11/20/18
10:16

On The Fly: Top five analyst upgrades

Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. LyondellBasell (LYB) upgraded to Outperform from Sector Perform at RBC Capital with analyst Arun Viswanathan saying the shares look attractive when investors "look through oil and market volatility," anticipating the company to post "robust" EBITDA growth in 2019 and 2020. 2. BP (BP) upgraded to Outperform from Market Perform at Raymond James with analyst Jean-Pierre Dmirdjian saying poor year-to-date share performance has created an attractive entry point. He also said shares screen well on free cash flow, oil leverage, and production growth. 3. CME Group (CME) upgraded to Buy from Hold at Berenberg with analyst Chris Turner saying he expects "unsettled markets" in 2019 to provide a supportive backdrop for volumes in CME's core interest rate and currency products. 4. American Vanguard (AVD) upgraded to Buy from Hold at Loop Capital with analyst Chris Kapsch saying despite "much negativity" surrounding the broader agriculture end market amid the ongoing Trump/China trade war, American Vanguard is "navigating and executing admirably." 5. EQT Corporation (EQT) upgraded to Buy from Neutral at Goldman Sachs with analyst Brian Singer saying he believes the company's production guidance calling for 5% asset sale-adjusted growth in 2019 is conservative. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

LYB

LyondellBasell

$92.75

-0.02 (-0.02%)

BP

BP

$40.30

-0.62 (-1.52%)

CME

CME Group

$193.00

-2.61 (-1.33%)

AVD

American Vanguard

$17.13

0.29 (1.72%)

EQT

EQT Corporation

$16.74

-0.32 (-1.88%)

  • 29

    Nov

LYB LyondellBasell
$92.75

-0.02 (-0.02%)

11/20/18
RBCM
11/20/18
UPGRADE
RBCM
Outperform
LyondellBasell upgraded to Outperform from Sector Perform at RBC Capital
11/20/18
RBCM
11/20/18
UPGRADE
Target $130
RBCM
Outperform
LyondellBasell upgraded to Outperform at RBC Capital on valuation
As reported earlier, RBC Capital analyst Arun Viswanathan upgraded LyondellBasell to Outperform from Sector Perform and raised his price target to $130 from $114. The analyst says the shares look attractive when investors "look through oil and market volatility", anticipating the company to post "robust" EBITDA growth in 2019 and 2020 from its "APS, IMO2020, I&D, and other organic investments". Viswanathan also sees LyondellBasell offering "strong exposure" to Polyethylene as well as a compelling valuation.
11/01/18
BMOC
11/01/18
NO CHANGE
Target $101
BMOC
Market Perform
LyondellBasell price target lowered to $101 from $111 at BMO Capital
BMO Capital analyst John McNulty lowered his price target on LyondellBasell to $101 and kept his Market Perform rating, saying that while the company's Technology and Intermediates/Derivatives segments helped its Q3 earnings beat, he expects its ethylene value/product chain to see margin pressure in 2019. McNulty adds that the "plethora of new ethylene capacity coming online, along with a likely moderating of the US ethane advantage and rising feedstock costs in Europe", should cap LyondellBasell's "past stellar earnings growth".
11/02/18
HSBC
11/02/18
UPGRADE
HSBC
Buy
LyondellBasell upgraded to Buy from Hold at HSBC
BP BP
$40.30

-0.62 (-1.52%)

11/20/18
RAJA
11/20/18
UPGRADE
RAJA
Outperform
BP upgraded to Outperform from Market Perform at Raymond James
10/03/18
REDB
10/03/18
UPGRADE
REDB
Buy
BP upgraded to Buy from Neutral at Redburn
Redburn analyst Rob West upgraded BP to Buy from Neutral and maintained a $90 fair value estimate to reflect increasing free cash flow from ramping global gas mega-projects and hidden value from divestment programs.
10/22/18
SIMM
10/22/18
INITIATION
Target $52
SIMM
Overweight
BP assumed with an Overweight at Simmons
Simmons analyst Blake Fernandez assumed BP with a Overweight rating and a price target of $52 as part of his broader research note on Integrated Oils suggesting that the industry stands to benefit from the current stage of the energy cycle. The analyst cites an improving macro backdrop, increased deleveraging, and expanding shareholder returns that should produce relative outperformance for this assumed group. Fernandez points to BP's "peer leading" 11% expected free cash flow yield and anticipated buybacks coming from the decline of Macondo related payments starting later in 2018, adding that BP also has the most earnings sensitivity to oil price movements.
11/20/18
11/20/18
UPGRADE

Outperform
BP upgraded to Outperform on valuation at Raymond James
As previously reported, Raymond James upgraded BP to Outperform from Market Perform. Analyst Jean-Pierre Dmirdjian said poor year-to-date share performance has crated an attractive entry point and said shares screen well on free cash flow, oil leverage, and production growth.
CME CME Group
$193.00

-2.61 (-1.33%)

11/20/18
BREN
11/20/18
UPGRADE
Target $220
BREN
Buy
CME Group upgraded to Buy with $220 price target at Berenberg
Berenberg analyst Chris Turner upgraded CME Group to Buy from Hold and raised his price target for the shares to $220 from $184. The analyst expects "unsettled markets" in 2019 to provide a supportive backdrop for volumes in CME's core interest rate and currency products. Further, the company's acquisition of NEX Group adds strategic optionality that has been underappreciated by investors, Turner tells investors in a research note.
11/20/18
SBSH
11/20/18
INITIATION
Target $220
SBSH
Buy
CME Group resumed with a Buy at Citi
Citi analyst Ben Herbert resumed coverage of CME Group with a Buy rating and $220 price target. The analyst calls CME his top pick among the U.S. Exchanges. His bullish view reflects the company's "broad, best in class transactions platform, high margins, and strong momentum from recent investments and new product innovation." The analyst also believes CME should act defensively should the broader economic or market backdrop deteriorate.
10/08/18
JEFF
10/08/18
NO CHANGE
Target $203
JEFF
Buy
CME Group price target raised to $203 from $190 at Jefferies
Jefferies analyst Daniel Fannon raised his price target for CME Group to $203 and keeps a Buy rating on the shares after spending time with management. While September volumes came in slightly below expectations, open interest figures continue to grow and the macro backdrop remains conducive to higher volatility, Fannon tells investors in a research note. further, he believes the NEX transaction appears to be on track to close before year end and should provide both earnings accretion and additional revenue growth opportunities. The analyst keeps a Buy rating on CME Group.
11/20/18
BREN
11/20/18
UPGRADE
BREN
Buy
CME Group upgraded to Buy from Hold at Berenberg
AVD American Vanguard
$17.13

0.29 (1.72%)

11/20/18
LOOP
11/20/18
UPGRADE
Target $29
LOOP
Buy
American Vanguard upgraded to Buy from Hold at Loop Capital
Loop Capital analyst Chris Kapsch upgraded American Vanguard to Buy and raised his price target for the shares to $29 from $24. Despite "much negativity" surrounding the broader agriculture end market amid the ongoing Trump/China trade war, American Vanguard is "navigating and executing admirably," Kapsch tells investors in a research note. Via acquisitions, the company has diversified away from its former leverage to cash row crops, says the analyst. As such, Kapsch believes the weak commodity prices are not having a major impact on American Vanguard's underlying fundamentals. He says the stock is "too cheap" at current levels and that there is upside potential for 2019.
EQT EQT Corporation
$16.74

-0.32 (-1.88%)

11/20/18
GSCO
11/20/18
DOWNGRADE
Target $29
GSCO
Neutral
Cabot Oil & Gas downgraded to Neutral from Buy at Goldman Sachs
Goldman Sachs analyst Brian Singer downgraded Cabot Oil & Gas (COG) to Neutral with an unchanged price target of $29. The analyst sees less relative upside following the stock's recent outperformance driven by what he believes is a "temporary improvement" in natural gas prices. Singer believes other stocks in his coverage universe offer more attractive risk/rewards. The analyst this morning also upgraded EQT Corporation (EQT) to Buy from Neutral.
11/14/18
11/14/18
NO CHANGE

Overweight
Morgan Stanley reiterates Overweight ratings on EQT Midstream, EQGP Holdings
Morgan Stanley analyst Tom Abrams noted that his colleague Drew Venker downgraded EQT Corporation (EQT) to Underweight from Equal Weight, citing his expectations for lower-than-guidance volume and free cash flow, as previously reported. Abrams believes Venker's downgrade of EQT could weigh somewhat on EQT Midstream Partners (EQM) and EQGP Holdings (EQGP), but he reiterates his Overweight ratings on both, citing his optimism on their projects, simplification and new business. Abrams, however, trimmed his price target on EQT Midstream to $54 from $55 and slightly lowered his price target on EQGP to $23 from $24.
11/14/18
11/14/18
DOWNGRADE

Underweight
Morgan Stanley sees structural challenges at EQT, downgrades to Underweight
As previously reported, Morgan Stanley analyst Drew Venker downgraded EQT Corporation (EQT) to Underweight from Equal Weight, as he believes the market is missing EQT's high cost structure and declining production starting in 2020. Given the structural challenges he sees, Venker believes EQT's guidance appears optimistic and will be difficult to achieve, he tells investors. Based on his expectations for higher capex and lower production, his 2020 EBITDA estimate is 10% below what's implied by guidance, the analyst noted. Venker slashed his price target on EQT shares to $12 from $48, which also reflects the spin off of 80.1% of EQT's stake in Equitrans Midstream (ETRN) in November.
11/20/18
GSCO
11/20/18
UPGRADE
Target $23
GSCO
Buy
EQT Corporation upgraded to Buy from Neutral at Goldman Sachs
Goldman Sachs analyst Brian Singer upgraded EQT Corporation to Buy with a $23 price target. The analyst believes the company's production guidance calling for 5% asset sale-adjusted growth in 2019 is conservative. Further, he thinks concerns around management's five-year outlook are overdone. EQT's valuation is attractive following the recent underperformance of the shares, Singer tells investors in a research note.

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CBU

Community Bank System

$62.22

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HAL

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$31.12

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Kraton

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LLY

Eli Lilly

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New Gold

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UBER

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ONB

Old National Bancorp

$16.85

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Oneok

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Celyad

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JPM

JPMorgan

$113.43

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, BTC

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