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FTK

Flotek

$1.42

-0.025 (-1.74%)

, ADM

Archer Daniels

$43.38

0.31 (0.72%)

06:50
01/11/19
01/11
06:50
01/11/19
06:50

Flotek eyeing $20M-$30M in projects from proceeds of Florida Chemical sale

Following closing of the transaction, Flotek will focus its efforts on providing its global clients best-in-class solutions designed to maximize performance of their oil and gas wells, while simultaneously lowering well costs and fluid complexity. Flotek intends to use the net proceeds to pay off its credit facility balance of approximately $50M. In addition, the company is currently considering investing $20M-$30M in previously identified organic growth capital projects and will carefully review other future potential uses of the remaining funds. Flotek intends to establish a Strategic Capital Committee to evaluate and make recommendations to the Board regarding the manner in which the company will deploy the remaining net proceeds from the sale of FCC. This includes the potential for additional investments in its business, returning capital to shareholders and other potential alternatives. The Committee plans to engage a leading advisory firm.

FTK

Flotek

$1.42

-0.025 (-1.74%)

ADM

Archer Daniels

$43.38

0.31 (0.72%)

  • 27

    Mar

FTK Flotek
$1.42

-0.025 (-1.74%)

08/08/18
GHSC
08/08/18
DOWNGRADE
GHSC
Neutral
Flotek downgraded to Neutral from Buy at Seaport Global
Seaport Global analyst Mike Urban downgraded Flotek to Neutral from Buy following the Q2 miss. Urban said "everything that could have gone wrong did" as the company missed "badly" on revenue and margins. The analyst does not see any positive catalysts in the short-to-intermediate term and said shares will likely be "dead money" at best until results improve.
ADM Archer Daniels
$43.38

0.31 (0.72%)

08/16/18
SPHN
08/16/18
NO CHANGE
Target $57
SPHN
Overweight
Archer Daniels price target raised to $57 after Brazilian deal at Stephens
Stephens analyst Farha Aslam noted that terms of Archer Daniels' deal to purchase Brazilian assets from Algar Agro were not disclosed, but she estimates the transaction to be valued at $200M-$300M. Aslam, who sees the deal strengthening Archer Daniels' positioning in the key agriculture market of Brazil, raised her price target on the stock to $57 from $52 and keeps an Overweight rating on Archer Daniels shares.
11/08/18
ARGS
11/08/18
UPGRADE
ARGS
Buy
Archer Daniels upgraded to Buy from Hold at Argus
11/08/18
ARGS
11/08/18
UPGRADE
Target $53
ARGS
Buy
Archer Daniels upgraded to Buy from Hold at Argus
Argus analyst Deborah Ciervo upgraded Archer Daniels to Buy with a price target of $53, citing the company's recent strong performance and improvement in its Oilseeds, Origination, and Nutrition divisions. The analyst also raised his FY18 EPS view by 10c to $3.59 and FY19 view by 8c to $3.66 thanks to the impact of its cost savings efforts. Ciervo has a positive view of the company's long-term strategy, which includes "global expansion through acquisitions and joint ventures, the sale of underperforming businesses, and cost-cutting initiatives".
11/08/18
11/08/18
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. Archer Daniels (ADM) upgraded to Buy from Hold at Argus with analyst Deborah Ciervo citing the company's recent strong performance and improvement in its Oilseeds, Origination, and Nutrition divisions. 2. Ultragenyx (RARE) upgraded to Neutral from Sell at Citi with analyst Yigal Nochomovitz saying his long-standing concerns on Ultragenyx's valuation "have substantially played out with recent pipeline disclosures having rapidly reset the valuation." 3. Medifast (MED) upgraded to Buy from Neutral at Sidoti. 4. Knight-Swift (KNX) upgraded to Buy from Neutral at Goldman Sachs with analyst Matthew Reustle saying he is bullish on Knight citing incremental evidence that the merger with Swift Transportation will deliver margin improvement through the end of the decade, reduced investor expectations following recent estimate revisions, and a view that Knight is more defensive through a down-cycle with a de-risked valuation. 5. Axon (AAXN) Enterprise upgraded to Overweight from Neutral at JPMorgan with analyst Mark Strouse saying the stock pulled back 16% yesterday following the company's Q3 results and guidance that implies a dip in revenue growth during Q4. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

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RVNC

Revance

$18.11

-2.11 (-10.44%)

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MRTX

Mirati Therapeutics

$62.51

-2.33 (-3.59%)

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  • 17

    Jan

BREW

Craft Brew

$15.50

0.19 (1.24%)

20:45
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ROX

Castle Brands

$0.91

0.0122 (1.36%)

20:41
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PRT

PermRock Royalty Trust

$9.61

-0.39 (-3.90%)

20:39
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GBCI

Glacier Bancorp

$42.87

1.36 (3.28%)

20:38
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ERJ

Embraer

$22.81

-0.59 (-2.52%)

20:34
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01/16
20:34
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20:34
Downgrade
Embraer rating change at Morgan Stanley »

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AICAF

Air China

$0.00

(0.00%)

20:32
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01/16
20:32
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20:32
Upgrade
Air China rating change at HSBC »

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CEA

China Eastern Airlines

$28.64

-0.09 (-0.31%)

20:26
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01/16
20:26
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20:26
Upgrade
China Eastern Airlines rating change at HSBC »

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MS

Morgan Stanley

$44.48

1.59 (3.71%)

, BBT

BB&T

$47.55

1.2 (2.59%)

20:25
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01/16
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Earnings
Notable companies reporting before tomorrow's open »

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MS

Morgan Stanley

$44.48

1.59 (3.71%)

BBT

BB&T

$47.55

1.2 (2.59%)

PPG

PPG

$102.58

1.58 (1.56%)

MTB

M&T Bank

$154.45

3.04 (2.01%)

KEY

KeyCorp

$16.75

0.44 (2.70%)

FAST

Fastenal

$54.11

-0.47 (-0.86%)

03/08/13
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  • 17

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    May

  • 18

    Oct

FDC

First Data

$21.27

3.72 (21.20%)

20:07
01/16/19
01/16
20:07
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20:07
Downgrade
First Data rating change at Goldman Sachs »

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  • 03

    Mar

VEON

Veon

$2.56

-0.03 (-1.16%)

19:44
01/16/19
01/16
19:44
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19:44
Downgrade
Veon rating change at VTB Capital »

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AMZN

Amazon.com

$1,682.84

7.84 (0.47%)

19:22
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01/16
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Amazon announces AWS Backup service »

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  • 16

    Jan

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GS

Goldman Sachs

$197.03

17.12 (9.52%)

19:09
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WSJ's "Heard on the Street" column says to look past Goldman Sachs Q4 glitter »

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  • 03

    Mar

TSLA

Tesla

$346.03

1.78 (0.52%)

18:57
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Periodicals
CA makes up large portion of Tesla Model 3 registrations in 2018, Bloomberg says »

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  • 16

    Jan

CARS

Cars.com

$23.14

-0.26 (-1.11%)

, MNKD

MannKind

$1.32

-0.06 (-4.35%)

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CARS

Cars.com

$23.14

-0.26 (-1.11%)

MNKD

MannKind

$1.32

-0.06 (-4.35%)

FOLD

Amicus

$12.18

0.19 (1.58%)

FUL

H.B. Fuller

$43.35

0.09 (0.21%)

PLXS

Plexus

$54.88

1.195 (2.23%)

CSX

CSX

$65.36

0.27 (0.41%)

KMI

Kinder Morgan

$17.46

0.15 (0.87%)

AA

Alcoa

$29.02

0.13 (0.45%)

ACB

Aurora Cannabis

$7.33

0.35 (5.01%)

MRTX

Mirati Therapeutics

$62.51

-2.33 (-3.59%)

AAPL

Apple

$154.88

1.84 (1.20%)

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  • 16

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  • 17

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BAC

Bank of America

$28.44

1.89 (7.12%)

18:46
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BofA's global investment banking head to leave bank, FT reports »

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  • 16

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NEWR

New Relic

$90.47

1.38 (1.55%)

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  • 23

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TME

Tencent Music

$12.99

0.57 (4.59%)

18:33
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Tencent Music initiated at JPMorgan »

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ASCMA

Ascent Capital

$0.40

-0.0499 (-11.09%)

18:27
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CMS

CMS Energy

$50.56

0.34 (0.68%)

18:19
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Initiation
CMS Energy initiated at Goldman Sachs »

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  • 10

    Feb

DTE

DTE Energy

$111.73

0.48 (0.43%)

18:15
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01/16
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Initiation
DTE Energy initiated at Goldman Sachs »

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