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URI

United Rentals

$105.37

3.5 (3.44%)

, RRC

Range Resources

$13.68

0.48 (3.64%)

09:55
12/11/18
12/11
09:55
12/11/18
09:55

Early notable gainers among liquid option names on December 11th

Notable gainers among liquid option names this morning include United Rentals (URI) $106.95 +5.09, Range Resources (RRC) $13.68 +0.48, Wynn Resorts (WYNN) $109.69 +3.44, Alcoa (AA) $29.21 +0.90, and Freeport McMoRan (FCX) $11.02 +0.34.

URI

United Rentals

$105.37

3.5 (3.44%)

RRC

Range Resources

$13.68

0.48 (3.64%)

WYNN

Wynn Resorts

$109.00

2.7 (2.54%)

AA

Alcoa

$29.26

0.95 (3.36%)

FCX

Freeport McMoRan

$11.02

0.33 (3.09%)

  • 11

    Dec

  • 13

    Dec

  • 14

    Dec

URI United Rentals
$105.37

3.5 (3.44%)

11/15/18
UBSW
11/15/18
NO CHANGE
Target $180
UBSW
Buy
United Rentals on a path of higher returns and growth, says UBS
UBS analyst Steven Fisher met with United Rentals management and came away confident the company is on a path of driving higher returns and profitable growth over the longer-term. He said demand remains solid in the medium-term and the customer-facing strategy is working. Fisher reiterated his Buy rating and $180 price target on United Rentals shares.
10/23/18
STPT
10/23/18
INITIATION
Target $140
STPT
Buy
United Rentals initiated with a Buy at Standpoint Research
Standpoint Research analyst Ronnie Moas initiated United Rentals with a Buy and $140 price target.
10/22/18
NRCS
10/22/18
UPGRADE
Target $49
NRCS
Buy
Northcoast upgrades Herc Holdings to Buy on 'overdone' selloff
Northcoast analyst John Healy upgraded Herc Holdings (HRI) to Buy from Neutral with a $49 price target. The 45% decline in shares since the July highs are largely the result of a "de-risking macro trade" as well as "less than hoped for rate trends" at competitor United Rentals (URI), Healy told investors earlier in a research note. The analyst views the selloff as "overdone" and believes Herc will "impress" when reporting results with a positive outlook.
10/31/18
MSCO
10/31/18
NO CHANGE
Target $175
MSCO
Overweight
United Rentals shares 'too cheap to ignore,' says Morgan Stanley
Morgan Stanley analyst Courtney Yakavonis contends that United Rentals shares have become "too cheap to ignore" after falling nearly 45% since mid-September. She believes the market is underappreciating the potential for modest, but sustained, rate growth in 2019 as well as margin improvements. The stock is currently trading at a level typically only seen when United exhibits either negative organic revenue growth or during periods of declining non-residential growth, which is not the case, noted the investors. She maintains an Overweight rating on United Rentals shares with a $175 price target.
RRC Range Resources
$13.68

0.48 (3.64%)

12/04/18
MKMP
12/04/18
INITIATION
Target $17
MKMP
Neutral
Range Resources initiated with a Neutral at MKM Partners
Price target $17.
09/26/18
09/26/18
DOWNGRADE
Target $23

Equal Weight
Morgan Stanley downgrades Cabot Oil to Equal Weight on lower nat gas price view
As previously reported, Morgan Stanley analyst Devin McDermott downgraded Cabot Oil & Gas (COG) to Equal Weight from Overweight after lowering his long-term natural gas price forecast to $2.50 from $2.75 and increasing his price assumptions for ethane in late 2018 and 2019. He also lowered his price target on Cabot shares to $23 from $29. U.S. natural gas should soon enter a new cycle of structural oversupply and stagnating demand, contends McDermott. Given that view, and the fact that oil weighted E&Ps trade at similar multiples to nat gas producers, McDermott remains Underweight on nat gas producers Range Resources (RRC), Gulfport Energy (GPOR) and Southwestern Energy (SWN).
12/06/18
SPHN
12/06/18
INITIATION
Target $21
SPHN
Equal Weight
Range Resources initiated with an Equal Weight at Stephens
Stephens analysts Gail Nicholson and Drew Lipke began coverage of the E&P sector with a positive outlook, starting Range Resources with an Equal Weight rating and $21 price target.
10/18/18
RILY
10/18/18
NO CHANGE
Target $29
RILY
Buy
Range Resources price target raised to $29 from $22 at B. Riley FBR
B. Riley FBR analyst Rehan Rashid raised his price target for Range Resources to $29 citing strength in natural gas prices. The analyst sees the company benefiting from its "material leverage" and he reiterates a Buy rating on the shares.
WYNN Wynn Resorts
$109.00

2.7 (2.54%)

11/15/18
BERN
11/15/18
INITIATION
Target $166
BERN
Outperform
Wynn Resorts initiated with an Outperform at Bernstein
Bernstein analyst Vitaly Umansky started Wynn Resorts with an Outperform rating and $166 price target. The analyst notes that over the last five years, gaming stocks have gone through periods of significant underperformance, followed by significant outperformance. The last six months have been exceptionally difficult for gaming stocks as Macau growth has begun to decelerate following nearly two years of strong growth and Las Vegas has seen unexpected near-term softness, he contends. However, Umansky argues that the gaming space has shown that if investors pick the right market, the right company, at the right time, outsized returns are possible.
12/05/18
UBSW
12/05/18
NO CHANGE
UBSW
UBS now sees Macau gross gaming revenue declining in 2019
UBS analyst Robin Farley lowered her 2019 Macau gross gaming revenue forecast to down 1% from up 5% previously. Her 2020 GGR estimate is now up 4% from a prior estimate of up 8%. Despite better than expected revenue in November, likely due to hold fluctuations, the lower estimates are driven by weaker VIP and premium demand amid heightened risk to the macroeconomic outlook in China, Farley tells investors in a research note partially titled "More Visitors Spending Less." She raised her price target for Neutral-rated Wynn Resorts (WYNN) to $113 from $108 while lowering her targets for Neutral-rated MGM Resorts (MGM) to $30 from $32 and Neutral-rated Melco Resorts & Entertainment (MLCO) to $19.50 from $21.60. The analyst also keeps a Neutral rating on Las Vegas Sands (LVS).
12/03/18
MSCO
12/03/18
NO CHANGE
MSCO
Overweight
Xi-Trump truce should ease some Macau concerns, says Morgan Stanley
Morgan Stanley analyst Thomas Allen believes that the constructive outcome from the G-20 meeting of Presidents Trump and Xi should be a positive for both Las Vegas Sands (LVS) and Wynn Resorts (WYNN), as he believes a thawing of trade tensions should ease some concerns around Macau concession renewals. Macau stocks have also been weighed down by slowing demand and concerns around the China consumption backdrop, but there have been positive updates on that front too, said Allen, who noted that Las Vegas Sands continues to be his preferred play on Macau. He keeps Overweight ratings on Las Vegas Sands and MGM Resorts (MGM), but does not view MGM as the same type of China proxy given its less than 20% Macau mix. Allen keeps an Equal Weight rating on Wynn shares.
11/21/18
DBAB
11/21/18
NO CHANGE
DBAB
Buy
Wynn Resorts shares set up well to outperform, says Deutsche Bank
Deutsche Bank analyst Carlo Santarelli believes Wynn Resorts management was prudent to reset the bar lower "during a period in which heroism is hardly being rewarded in gaming." The analyst finds the guidance conservative, which he thinks sets up shares of Wynn Resorts well to outperform, relative to peers. Santarelli keeps a Buy rating on the name.
AA Alcoa
$29.26

0.95 (3.36%)

10/18/18
BMOC
10/18/18
NO CHANGE
Target $75
BMOC
Outperform
Alcoa remains 'meaningfully undervalued', says BMO Capital
BMO Capital analyst David Gagliano kept his Outperform rating and $75 price target on Alcoa after its Q3 earnings beat and additional $200M stock buyback, maintaining his view that the shares are "meaningfully undervalued" even under the "risk-off" environment assumptions. The analyst notes that the company's earnings beat was driven by its aluminum segment profitability thanks to the strong contributions from energy and flat-rolled products. Gagliano also contends that there is a disconnect between Alcoa valuation multiples typically seen at the peak of the underlying pricing cycle and its compressed marginal cost prices.
10/18/18
FBCO
10/18/18
NO CHANGE
Target $58
FBCO
Outperform
Alcoa too cheap to ignore, says Credit Suisse
Credit Suisse analyst Curt Woodworth believes Alcoa is "significantly undervalued" and thinks the strong operating performance in Q3 and continued tightness in alumina set the stage for meaningful earnings revisions across the Street. The analyst reiterates an Outperform rating and $58 price target on the shares.
10/18/18
JPMS
10/18/18
NO CHANGE
Target $79
JPMS
Overweight
Alcoa price target raised to $79 from $75 at JPMorgan
JPMorgan analyst Michael Gambardella raised his price target for Alcoa to $79 saying the company last night reported a "solid Q3 beat" and continues to operate well in "turbulent" alumina and aluminum markets. With a $200M buyback program announced, the analyst thinks Alcoa will use its cash going forward for repurchases and to continue to reduce its debt and pension obligations. He believes the stock price is "discounting too steep of a drop in alumina and aluminum prices." Gambardella keeps an Overweight rating on Alcoa.
10/09/18
MSCO
10/09/18
NO CHANGE
Target $57
MSCO
Overweight
Alcoa has 10% potential upside if tariffs replaced, says Morgan Stanley
Morgan Stanley analyst Piyush Sood noted that U.S. steel and aluminum tariffs were left in place under the USMCA agreement, but President Trump said they were only being left in place "until such time as we can do something that would be different, like quotas." Replacing U.S. import tariffs on Canadian aluminum with duty-free quotas could add about $150M to Alcoa's annual EBITDA, calculated Sood, who said that equates to about a 10% potential upside in the stock "that the market has so far ignored." The analyst, who sees Alcoa's Q3 results coming in ahead of expectations, keeps an Overweight rating and $57 price target on the shares.
FCX Freeport McMoRan
$11.02

0.33 (3.09%)

11/07/18
RBCM
11/07/18
DOWNGRADE
Target $15
RBCM
Underperform
Freeport McMoRan downgraded to Underperform at RBC Capital on valuation
As noted earlier, RBC Capital analyst Stephen Walker downgraded Freeport McMoRan to Underperform from Sector Perform and lowered his price target to $15 from $16. The analyst points to the company's premium valuation ahead of what he expects to be a decline in 2019 production. Walker also cites Freeport McMoRan's operating risks associated with the transition from open-pit to underground mining at the Grasberg mine and the "integration risk associated with Inalum becoming a new partner."
11/07/18
11/07/18
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. Freeport McMoRan (FCX) downgraded to Underperform from Sector Perform at RBC Capital with analyst Stephen Walker saying he points to the company's premium valuation ahead of what he expects to be a decline in 2019 production. 2. Zillow (Z, ZG) downgraded to Sell from Hold at Zelman and to Negative from Neutral at Susquehanna. 3. Mindbody (MB) downgraded to Neutral from Buy at UBS and Roth Capital as well as to Neutral from Overweight at JPMorgan. 4. Frontier Communications (FTR) downgraded to Sell from Neutral at UBS with analyst Batya Levi saying Frontier's free cash flow remains under pressure. 5. Audentes downgraded to Market Perform from Outperform at William Blair with analyst Raju Prasad saying increased competition in Pompe disease is giving him pause. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/25/18
BMOC
10/25/18
NO CHANGE
Target $13
BMOC
Market Perform
Freeport McMoRan price target lowered to $13 from $16 at BMO Capital
BMO Capital analyst David Gagliano lowered his price target on Freeport McMoRan to $13 and kept his Market Perform rating after its Q3 results. The analyst notes that while the company's volume targets are stabilizing, they are still "exposed" to future deferrals. Gagliano believes that Freeport McMoRanstock can recover if copper prices bounce, but also notes that any meaningful stock price recovery is predicated on copper pricing.
11/06/18
RBCM
11/06/18
DOWNGRADE
RBCM
Underperform
Freeport McMoRan downgraded to Underperform from Sector Perform at RBC Capital

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FMBH

First Mid-Illinois Bancshares

$33.31

-0.13 (-0.39%)

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General news
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CTRA

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Sparton

$18.40

0.08 (0.44%)

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POL

PolyOne

$31.07

-0.17 (-0.54%)

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GOOS

Canada Goose

$49.59

-0.4 (-0.80%)

, GOOGL

Alphabet Class A

$1,085.27

6.59 (0.61%)

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Downgrade
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GOOS

Canada Goose

$49.59

-0.4 (-0.80%)

GOOGL

Alphabet Class A

$1,085.27

6.59 (0.61%)

GOOG

Alphabet

$1,076.04

5.32 (0.50%)

FB

Facebook

$144.35

-3.45 (-2.33%)

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  • 24

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SO

Southern Company

$47.58

0.47 (1.00%)

08:28
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NKE

Nike

$80.52

-0.23 (-0.28%)

, ADDYY

Adidas

$0.00

(0.00%)

08:27
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Nike

$80.52

-0.23 (-0.28%)

ADDYY

Adidas

$0.00

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BTX

BioTime

$0.92

-0.0193 (-2.05%)

08:27
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INCY

Incyte

$75.20

-2.11 (-2.73%)

08:25
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BLPH

Bellerophon

$0.68

-0.2007 (-22.79%)

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AAWW

Atlas Air

$49.61

-0.5 (-1.00%)

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The Wings Club to hold a luncheon meeting »

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CP

Canadian Pacific

$195.71

0.02 (0.01%)

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$DJT

DJ Transportation Average

$0.00

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$DJU

DJ Utility Average

$0.00

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DJX

Dow Jones Industrial Average

$0.00

(0.00%)

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iShares Transportation Average

$174.98

-1.01 (-0.57%)

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XLK

Technology Select Sector SPDR

$64.45

0.22 (0.34%)

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XLE

Energy Select Sector SPDR

$61.79

-0.6 (-0.96%)

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Technical Analysis
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XLY

Consumer Discretionary Sector SPDR

$105.40

0.16 (0.15%)

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XLB

S&P Select Materials SPDR

$52.42

-0.34 (-0.64%)

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