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WRK

WestRock

$45.33

-0.875 (-1.89%)

06:20
12/10/18
12/10
06:20
12/10/18
06:20

WestRock downgraded to Neutral from Buy at Goldman Sachs

Goldman Sachs analyst Brian Maguire downgraded WestRock to Neutral and lowered his price target for the shares to $54 from $57. The analyst sees accelerating supply coupled with decelerating demand. The recent "sharp acceleration" in announcements of new U.S. containerboard capacity comes at a time when U.S. box shipment demand growth is decelerating and macroeconomic growth is projected to decelerate in 2019, Maguire tells investors in a research note. The analyst prefers to wait on the sidelines ahead of likely U.S. price cuts at some point in 2019 or 2020.

WRK WestRock
$45.33

-0.875 (-1.89%)

10/23/18
BOFA
10/23/18
INITIATION
Target $52
BOFA
Buy
WestRock initiated with a Buy at BofA/Merrill
Seaport Global analyst Mark Weintraub initiated WestRock with a Buy and $52 price target telling investors shares are "too cheap." Weintraub said WestRock is gaining ground on competitors in Corrugated, and expects it to turn the corner in Consumer Packaging in 2019.
10/10/18
10/10/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Vipshop (VIPS) downgraded to Neutral from Overweight at JPMorgan with analyst Alex Yao saying as the "tough competitive environment and harder-than-expected synergy generation," Vipshop is likely to adjust its strategy to re-focus on core off-season apparel distribution and prioritize profitability over sales growth. 2. International Paper (IP) downgraded to Neutral from Buy at Goldman Sachs while WestRock (WRK) was downgraded to Buy from Conviction Buy. 3. Clorox (CLX), Church & Dwight (CHD), and Kimberly-Clark (KMB) were downgraded to Sell from Hold at Deutsche Bank. 4. Sherwin-Williams (SHW) downgraded to Neutral from Buy at Citi with analyst P.J. Juvekar saying "tough" market comments from companies like H.B. Fuller (FUL), PPG (PPG) and RPM (RPL) suggest that coatings companies are likely to be challenged by rising raw materials costs and slowing growth in key end markets, including China. 5. KKR (KKR) downgraded to Neutral from Buy at BofA/Merrill with analyst Michael Carrier citing valuation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/10/18
GSCO
10/10/18
DOWNGRADE
Target $64
GSCO
Buy
WestRock downgraded to Buy from Conviction Buy at Goldman Sachs
Goldman Sachs analyst Brian Maguire removed WestRock from his firm's Americas Conviction List while keeping a Buy rating on the shares. The analyst also lowered his price target for the stock to $64 from $73. Following 12 new U.S. containerboard capacity announcements since July 2017, the analyst now forecasts 11% growth in North American capacity from 2019-2022 against an estimate of 2% per year demand growth. U.S. containerboard supply growth will outpace demand growth during the 2020-2022 period, which increases the risk of pricing/earnings declines in that time period, Maguire tells investors in a research note. The analyst admits that he underestimated the speed and severity of the supply response in the industry to the acceleration in demand.
10/10/18
GSCO
10/10/18
DOWNGRADE
Target $53
GSCO
Neutral
International Paper downgraded to Neutral from Buy at Goldman Sachs
Goldman Sachs analyst Brian Maguire downgraded International Paper (IP) to Neutral and lowered his price target for the shares to $53 from $63. The stock closed yesterday down $2.69 to $44.64. Following 12 new U.S. containerboard capacity announcements since his upgrade of the shares on July 12, 2017, the analyst now forecasts 11% growth in North American capacity from 2019-2022 against an estimate of 2% per year demand growth. U.S. containerboard supply growth will outpace demand growth during the 2020-2022 period, which increases the risk of pricing/earnings declines in that time period, Maguire tells investors in a research note. The analyst admits that he underestimated the speed and severity of the supply response in the industry to the acceleration in demand. Maguire also lowered his price target for Buy-rated WestRock (WRK) to $64 from $73 and removed the shares from his firm's Americas Conviction List. He also dropped his price target for Neutral-rated Packaging Corp. (PKG) to $108 from $119.

TODAY'S FREE FLY STORIES

12:20
11/14/19
11/14
12:20
11/14/19
12:20
General news
Treasury Action: yields have continued to drift lower »

Treasury Action: yields…

$NSD

NASDAQ Market Internals

$0.00

(0.00%)

12:17
11/14/19
11/14
12:17
11/14/19
12:17
Technical Analysis
NASDAQ market internals summary »

Volume is above average…

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$NYE

NYSE Market Internals

$0.00

(0.00%)

12:16
11/14/19
11/14
12:16
11/14/19
12:16
Technical Analysis
NYSE market internals summary »

Volume is average for…

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12:15
11/14/19
11/14
12:15
11/14/19
12:15
Conference/Events
Federal Reserve Bank of St. Louis president speaks at a luncheon »

St. Louis Federal Reserve…

12:10
11/14/19
11/14
12:10
11/14/19
12:10
General news
Fed Chair Powell has concluded day 2 testimony »

Fed Chair Powell has…

KKR

KKR

$29.68

0.3 (1.02%)

, DIS

Disney

$147.85

-0.84 (-0.56%)

12:09
11/14/19
11/14
12:09
11/14/19
12:09
Hot Stocks
'Fortnite' streamer Ewok moving to Microsoft's Mixer from Amazon's Twitch »

Soleil "Ewok"…

KKR

KKR

$29.68

0.3 (1.02%)

DIS

Disney

$147.85

-0.84 (-0.56%)

TCEHY

Tencent

$0.00

(0.00%)

MSFT

Microsoft

$147.39

0.06 (0.04%)

AMZN

Amazon.com

$1,751.40

-2.44 (-0.14%)

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MRTX

Mirati Therapeutics

$102.34

1.6 (1.59%)

12:05
11/14/19
11/14
12:05
11/14/19
12:05
Options
Mirati Therapeutics call volume above normal and directionally bullish »

Bullish option flow…

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12:05
11/14/19
11/14
12:05
11/14/19
12:05
General news
The Treasury's $95 B 4- and 8-week bill offerings were mixed »

The Treasury's $95 B…

12:05
11/14/19
11/14
12:05
11/14/19
12:05
General news
Breaking General news story  »

St. Louis Federal Reserve…

12:05
11/14/19
11/14
12:05
11/14/19
12:05
General news
Breaking General news story  »

St. Louis Federal Reserve…

WMT

Walmart

$119.87

-1.19 (-0.98%)

, CSCO

Cisco

$44.69

-3.75 (-7.74%)

12:04
11/14/19
11/14
12:04
11/14/19
12:04
On The Fly
Fly Intel: Wall Street's top stories at midday »

The Dow and S&P…

WMT

Walmart

$119.87

-1.19 (-0.98%)

CSCO

Cisco

$44.69

-3.75 (-7.74%)

AXNX

Axonics

$29.70

4.21 (16.52%)

DDS

Dillard's

$76.51

8.71 (12.85%)

NTAP

NetApp

$62.17

2.13 (3.55%)

RBBN

Ribbon Communications

$3.18

-0.87 (-21.48%)

CGC

Canopy Growth

$15.58

-2.94 (-15.87%)

WB

Weibo

$44.80

-8.01 (-15.17%)

03/08/13
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  • 14

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    Feb

CGC

Canopy Growth

$15.64

-2.88 (-15.55%)

12:00
11/14/19
11/14
12:00
11/14/19
12:00
Hot Stocks
Canopy Growth falls -15.6% »

Canopy Growth is down…

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  • 14

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    Nov

I

Intelsat

$12.10

-2.31 (-16.03%)

12:00
11/14/19
11/14
12:00
11/14/19
12:00
Hot Stocks
Intelsat falls -16.0% »

Intelsat is down -16.0%,…

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  • 10

    Dec

CTRA

Contura Energy

$10.25

-7.9 (-43.53%)

12:00
11/14/19
11/14
12:00
11/14/19
12:00
Hot Stocks
Contura Energy falls -44.1% »

Contura Energy is down…

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  • 14

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GFF

Griffon

$24.95

3.23 (14.87%)

12:00
11/14/19
11/14
12:00
11/14/19
12:00
Hot Stocks
Griffon rises 14.2% »

Griffon is up 14.2%, or…

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PING

Ping Identity

$18.90

2.4 (14.55%)

12:00
11/14/19
11/14
12:00
11/14/19
12:00
Hot Stocks
Ping Identity rises 14.5% »

Ping Identity is up…

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  • 19

    Nov

IGT

International Game

$15.31

2.39 (18.50%)

12:00
11/14/19
11/14
12:00
11/14/19
12:00
Hot Stocks
International Game rises 18.8% »

International Game is up…

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  • 14

    Nov

11:55
11/14/19
11/14
11:55
11/14/19
11:55
General news
Powell assured the Fed will use its tools "aggressively" if appropriate »

Powell assured the Fed…

ACN

Accenture

$194.94

0.43 (0.22%)

11:52
11/14/19
11/14
11:52
11/14/19
11:52
Hot Stocks
Accenture announces intent to acquire consulting firm Silveo »

Accenture has announced…

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  • 19

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VOD

Vodafone

$20.50

-0.61 (-2.89%)

11:45
11/14/19
11/14
11:45
11/14/19
11:45
Options
Vodafone call volume above normal and directionally bullish »

Bullish option flow…

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11:45
11/14/19
11/14
11:45
11/14/19
11:45
General news
Breaking General news story  »

New York Federal Reserve…

11:38
11/14/19
11/14
11:38
11/14/19
11:38
General news
4-Week Bill Auction Total Amount data reported »

4-Week Bill Auction Total…

11:38
11/14/19
11/14
11:38
11/14/19
11:38
General news
8-Week Bill Auction Total Amount data reported »

8-Week Bill Auction Total…

TMO

Thermo Fisher

$298.18

-1.72 (-0.57%)

, QGEN

Qiagen

$36.88

1.36 (3.83%)

11:37
11/14/19
11/14
11:37
11/14/19
11:37
Upgrade
Thermo Fisher, Qiagen rating change  »

Evercore upgrades Qiagen…

TMO

Thermo Fisher

$298.18

-1.72 (-0.57%)

QGEN

Qiagen

$36.88

1.36 (3.83%)

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  • 02

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    Dec

WORK

Slack Technologies

$21.18

-0.12 (-0.56%)

11:35
11/14/19
11/14
11:35
11/14/19
11:35
Options
Slack put volume heavy and directionally bearish »

Bearish flow noted in…

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