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BA

Boeing

$357.91

-6.88 (-1.89%)

, LLL

L3 Technologies

$178.72

-4.63 (-2.53%)

17:50
01/22/19
01/22
17:50
01/22/19
17:50

Boeing, Leidos and more to compete for CMMARS orders with $12.6B ceiling

Boeing (BA), L-3 Communications (LLL), Leidos (LDOS) and Northrop Grumman (NOC), were each awarded indefinite-delivery/indefinite-quantity contracts. These contracts provide for logistics services for the contracted maintenance, modification, aircrew and related services, or CMMARS, program in support of aviation platforms of various Navy and Air Force type/model/series aircraft, inter-related systems, subsystems, and services. CMMARS will provide contractor logistics services for fixed-wing, rotary-wing, unmanned aircraft vehicles, and lighter than air vehicles, as well as integrally related systems and weapon systems. Logistical support to be provided includes logistics functions and maintenance tasks required to keep U.S. and Foreign Military Sales, or FMS, customers aircraft ready, available and operating worldwide. CMMARS may be used for platforms at all phases of the acquisition life cycle. The estimated aggregate ceiling for all contracts is $12.6B with the companies having an opportunity to compete for individual orders. Work will be performed at various afloat and ashore locations inside the continental U.S. and outside the continental U.S. and is expected to be completed in January 2024. No funds are being obligated at time of award; funds will be obligated on individual orders as they are issued. These contracts were competitively procured via an electronic request for proposals; 21 offers were received. The Naval Air Warfare Center is the contracting activity.

BA

Boeing

$357.91

-6.88 (-1.89%)

LLL

L3 Technologies

$178.72

-4.63 (-2.53%)

LDOS

Leidos

$56.13

-0.78 (-1.37%)

NOC

Northrop Grumman

$264.70

-2.84 (-1.06%)

  • 29

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    Feb

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BA Boeing
$357.91

-6.88 (-1.89%)

01/10/19
01/10/19
NO CHANGE

Morgan Stanley upgrades Boeing, downgrades Lockheed in A&D ratings shake-up
As previously reported, Morgan Stanley analyst Rajeev Lalwani upgraded Boeing (BA) to Overweight from Equal Weight and downgraded Lockheed Martin (LMT) to Equal Weight from Overweight as he adjusted his picks within Aerospace & Defense to focus more on those with visibility to free cash flow growth. Boeing shares are down about 15% from their highs, creating a favorable set-up, and the resilience of the EPS and free cash profile should remain in place within Commercial Aerospace, barring a downturn, Lalwani tells investors. He raised his price target on Boeing shares to $450 from $400. With the F-35 plateauing and pension tailwinds receding, Lalwani sees emerging headwinds on earnings and cash flow post 2020 for Lockheed, he said in explaining his downgrade of the stock. He lowered his price target on Lockheed shares to $300 from $366.
01/10/19
01/10/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Constellation Brands (STZ) upgraded to Buy from Neutral at Goldman Sachs and to Neutral from Sell at Guggenheim. 2. Boeing (BA) upgraded to Overweight from Equal Weight at Morgan Stanley. 3. Lockheed Martin (LMT) upgraded to Buy from Hold at Vertical Group. 4. United Continental (UAL) upgraded to Overweight from Neutral at JPMorgan while Alaska Air (ALK) was upgraded to Neutral from Underweight. 5. Twitter (TWTR) double upgraded to Buy from Underperform at BofA/Merrill with analyst Justin Post citing a survey he conducted which showed Twitter penetration increased to 48% of respondents and the percentage of users reporting deceased usage fell slightly. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/10/19
01/10/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Ship Finance (SFL) initiated with a Neutral at B. Riley FBR. 2. Wipro (WIT) initiated with a Hold at Deutsche Bank. 3. Boeing (BA), Lockheed Martin (LMT), and Raytheon (RTN) were initiated with a Positive at Susquehanna while Northrop Grumman (NOC) and General Dynamics (GD) were initiated with a Neutral. 4. Dollar General (DG) initiated with an Outperform at BMO Capital while Dollar Tree (DLTR) was initiated with a Market Perform. 5. Verint (VRNT) initiated with a Buy at Jefferies. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
01/15/19
JEFF
01/15/19
NO CHANGE
JEFF
Jeffeires finds Aerospace Aftermarket survey positive for Boeing, TransDigm
Jefferies analyst Sheila Kahyaoglu says conclusions from her firm's Aerospace Aftermarket survey indicate a "healthy" outlook for aftermarket volumes of 5%, but one that is slightly below investor expectations of 5%-7%. The lower figures from the survey respondents may be due to a higher proportion of volumes associated with original equipment manufacturers, Kahyaoglu tells investors in a research note. She found the survey results positive for Boeing (BA) and TransDigm (TDG).
LLL L3 Technologies
$178.72

-4.63 (-2.53%)

11/02/18
JPMS
11/02/18
DOWNGRADE
Target $240
JPMS
Neutral
L3 Technologies downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Seth Seifman downgraded L3 Technologies (LLL) to Neutral and lowered his price target for the shares to $240 from $245. The analyst views Harris (HRS) as the better way to gain exposure to the proposed merger. He keeps an Overweight rating on Harris with a $190 price target.
11/13/18
LEHM
11/13/18
UPGRADE
Target $181
LEHM
Overweight
Harris upgraded to Overweight from Equal Weight at Barclays
Barclays analyst David Strauss upgraded Harris Corp (HRS). to Overweight while lowering his price target for the shares to $181 from $189. The analyst sees the merger with L3 Technologies (LLL) enhancing the company's growth characteristics.
11/13/18
LEHM
11/13/18
UPGRADE
Target $181
LEHM
Overweight
Barclays upgrades Harris to Overweight ahead of L3 merger
Barclays analyst David Strauss upgraded Harris Corp (HRS). to Overweight while lowering his price target for the shares to $181 from $189. The analyst forecasts "outsized growth" for Harris, even prior to its pending merger with L3 Technologies (LLL). He believes his thesis on standalone Harris, which reflects "strong" revenue growth combined with "commercial-like" operating leverage and "significant" capital deployment post deleveraging and pension, can only be enhanced with the operational improvement opportunity that the merger brings. Strauss estimates the combined company will generate $2B in free cash flow by deal close, leaving it "only" 1.5 times net levered, "immediately allowing for aggressive share repurchase."
12/13/18
JEFF
12/13/18
NO CHANGE
Target $170
JEFF
Buy
Jefferies lowers Harris target to $170, L3 target to $205
Jefferies analyst Sheila Kahyaoglu lowered her price target for Buy-rated Harris (HRS) to $170 from $184 and for Hold-rated L3 Technologies (LLL) to $205 from $224. After a deep dive into the combined company, the analyst sees the most significant opportunities in Broadband Comms and Night Vision. Overall, her assumptions are for 6% growth, in line with the fiscal 2017-2021 budget, with growth front-end-loaded. Cost take-out should translate to revenue growth over the long term, Kahyaoglu tells investors in a research note.
LDOS Leidos
$56.13

-0.78 (-1.37%)

06/21/18
WELS
06/21/18
NO CHANGE
WELS
Leidos may have opportunity to regain lost TSA business, says Wells Fargo
After the Washington Business Journal reported that the Transportation Security Administration has terminated a $578M contract awarded to Peraton, Wells Fargo analyst Ed Caso noted that Leidos is the incumbent providing logistical support services for security screening equipment. If the contract goes back to rebid, Leidos' transition agreement will likely need to be extended further and the company may have an opportunity to recapture the "notable" loss, added Caso, who has an Outperform rating on Leidos shares.
12/21/18
COWN
12/21/18
NO CHANGE
Target $74
COWN
Outperform
Leidos downside limited given recent selloff, says Cowen
Cowen analyst Kai von Rumohr said he sees limited downside in Leidos since the stock is down roughly 18% since November. The analyst said improved bookings bode well for 2019 revenue growth and he believes Genesis activity will likely pick up in 2020. von Rumohr reiterated his Outperform rating and lowered his price target to $74 from $77 on Leidos shares.
01/03/19
01/03/19
NO CHANGE

Leidos granted patent for peptide class of checkpoint inhibitors
Leidos has been issued a U.S. patent covering methods for novel peptide-based PD-1 checkpoint inhibitors. The patent was fast-tracked under the USPTO's Patents 4 Patients program.
01/04/19
WELS
01/04/19
NO CHANGE
Target $30
WELS
Outperform
Wells Fargo favors Perspecta, Booz Allen, CACI in government services
In a research note on government services companies, Wells Fargo analyst Ed Caso tells investors that he continues to favor Booz Allen Hamilton (BAH), CACI International (CACI), Leidos (LDOS), Perspecta (PRSP) and ManTech (MANT) as the government continues its shutdown, though he says near-term outperfomance may be difficult despite being "defensive" names. Caso notes that this shutdown is different than the 16-day shutdown in October 2013, as this time about 75% of the government is funded, particularly Defense/Intel versus none in 2013. Though services providers fell into the 2013 shutdown, then recovered starting mid-event, this time, investor concern has weighed on the group for a few months now, which he believes has dampened the group's traditional defensive characteristics.
NOC Northrop Grumman
$264.70

-2.84 (-1.06%)

01/14/19
FBCO
01/14/19
UPGRADE
FBCO
Outperform
Northrop Grumman upgraded to Outperform from Neutral at Credit Suisse
01/14/19
FBCO
01/14/19
UPGRADE
FBCO
Outperform
Northrop Grumman upgraded to Outperform from Neutral at Credit Suisse
01/14/19
01/14/19
UPGRADE
Target $302

Outperform
Northrop Grumman upgraded to Outperform on valuation at Credit Suisse
As previously reported, Credit Suisse analyst Robert Spingarn upgraded Northrop Grumman to Outperform from Neutral, while lowering his price target on the shares to $302 from $311. The analyst notes that the market was not kind to Northrop Grumman in 2018, with the stock trading down about 21% for the year and about 32% off its high in April. While some of this weakness was endemic to its own circumstances, the analyst thinks it is more broadly a reflection of lofty expectations for future budgets and correspondingly elevated ex-pension valuations seen for both Northrop Grumman and across the defense hardware space this past spring. At this point, however, the selloff has created an attractive opening, he contends.
01/14/19
01/14/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Snap (SNAP) upgraded to Neutral from Sell at Citi with analyst Mark May saying Snap is down 70% since February 2018 and its current valuation is below Twitter (TWTR) and Facebook's (FB) current and four-year average multiple. 2. Northrop Grumman (NOC) upgraded to Outperform from Neutral at Credit Suisse with analyst Robert Spingarn saying the market was not kind to Northrop Grumman in 2018, with the stock trading down about 21% for the year and about 32% off its high in April. 3. Alcoa (AA) and Teck Resources (TECK) were upgraded to Buy from Neutral at Goldman Sachs. 4. Sherwin-Williams (SHW) upgraded to Outperform from Market Perform at Wells Fargo with analyst Stephen East saying with the equity now trading at an 18.0 times PE multiple and the company growing 2019 EPS an estimated 17%-plus year over year, East believes investors appreciate the potential risks, but might not be appreciating the potential upside. 5. Emerson (EMR) upgraded to Neutral from Sell at Citi with analyst Andrew Kaplowtiz saying he continues to expect slowing growth before larger project activity begins to contribute. 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

ENPH

Enphase Energy

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Argo Group

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Urovant Sciences

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NFLX

Netflix

$363.27

1.64 (0.45%)

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Apple

$188.03

1.83 (0.98%)

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Periodicals
Netflix not a tech company, and won't be on Apple video, CEO tells Recode »

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Disney

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RHHBY

Roche

$0.00

(0.00%)

05:16
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Hot Stocks
Roche announces FDA approval of Tecentriq with chemotherapy for lung cancer »

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FX Action: USD-CAD has remained steady-but-heavy »

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ALGN

Align Technology

$253.83

1.51 (0.60%)

05:09
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MGMB

MGM Holdings

$0.00

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, MGM.B

MGM Holdings

$0.00

(0.00%)

05:03
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05:03
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05:03
Recommendations
MGM Holdings, MGM Holdings analyst commentary at Imperial Capital »

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MGMB

MGM Holdings

$0.00

(0.00%)

MGM.B

MGM Holdings

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CWH

Camping World

$13.45

-0.07 (-0.52%)

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NOAH

Noah Holdings

$46.87

0.5 (1.08%)

04:55
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Noah Holdings management to meet with JPMorgan »

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AHT

Ashford Hospitality

$4.81

0.09 (1.91%)

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ALDR

Alder Biopharmaceuticals

$13.72

0.21 (1.55%)

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JMP

JMP Group

$3.86

-0.085 (-2.15%)

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JMP Group management to meet with Barrington »

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ANDE

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$34.32

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MKTX

MarketAxess

$237.77

4.27 (1.83%)

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MGA

Magna

$49.29

0.45 (0.92%)

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CYAD

Celyad

$21.35

(0.00%)

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Celyad management to meet with William Blair »

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WCN

Waste Connections

$84.90

0.48 (0.57%)

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WIFI

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$21.14

-0.65 (-2.98%)

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CPST

Capstone Turbine

$0.93

0.0602 (6.91%)

, CEVA

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CEVA

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ATEA

Astea

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$61.72

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VERI

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$6.49

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SRAX

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RUN

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QTNA

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CWCO

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EVER

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PXLW

Pixelworks

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BBSI

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FIVN

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TMDI

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MNLO

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CRWS

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ASUR

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BOXL

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$2.85

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CTEK

CynergisTek

$4.55

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EIDX

Eidos Therapeutics

$20.22

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IOTS

Adesto Technologies

$6.33

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SUMR

Summer Infant

$0.75

0.0024 (0.32%)

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AEE

Ameren

$72.49

-0.55 (-0.75%)

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Ameren management to meet with Wolfe Research »

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