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UAL

United Continental

$81.70

0.22 (0.27%)

, BA

Boeing

$378.90

5.575 (1.49%)

18:19
03/15/19
03/15
18:19
03/15/19
18:19

Air Canada, United say 737 MAX groundings to harm operations, Reuters says

Air Canada and United Airlines (UAL) became the first major North American carriers to warn of negative impacts on business due to the grounding of Boeing (BA) 737 MAX jets, Reuters reports. Air Canada suspended its 2019 financial forecasts, saying it will adapt a contingency plan to address the current uncertainty, while United said it expects an adverse effect on its operations if the planes remained grounded heading into the peak summer travel season, the report notes. Reference Link

UAL

United Continental

$81.70

0.22 (0.27%)

BA

Boeing

$378.90

5.575 (1.49%)

  • 19

    Mar

UAL United Continental
$81.70

0.22 (0.27%)

02/22/19
STPT
02/22/19
DOWNGRADE
STPT
Hold
United Continental downgraded to Hold from Buy at Standpoint Research
03/01/19
DBAB
03/01/19
DOWNGRADE
DBAB
Hold
Deutsche downgrades American Airlines, Delta on global market exposure
Deutsche Bank analyst Michael Linenberg downgraded both American Airlines (AAL) and Delta Air Lines (DAL) to Hold from Buy. Recent global macro data points "have been less encouraging of late" suggesting that airline industry risks are now more biased to the downside, Linenberg tells investors in a research note. As a result, the analyst is finding it more difficult to advocate "new money" positions in names with the most exposure to global markets. This drives his downgrade of both American and Delta to Hold. Linenberg lowered his price target for American to $40 from $47 and for Delta to $55 from $66. He also lowered his target for Buy-rated Alaska Air (ALK) to $73 from $75, for Buy-rated Allegiant Travel (ALGT) to $160 from $169, for Buy-rated JetBlue (JBLU) to $20 from $22, for Buy-rated SkyWest (SKYW) to $68 from $75, for Buy-rated Spirit Airlines (SAVE) to $75 from $79, for United Continental (UAL) to $105 from $109, and for Buy-rated Mesa Air (MESA) to $17 from $18.
03/13/19
MSCO
03/13/19
NO CHANGE
MSCO
Morgan Stanley says 737 MAX grounding shouldn't hurt long-term fundamentals
Morgan Stanley analyst Rajeev Lalwani noted that most major countries and airlines that operate Boeing's (BA) 737 MAX, except for the U.S. and Canada, have placed restrictions around the plane and his expectation is for a grounding of the fleet globally. In that base case, he said there is likely to be disruption to Boeing's deliveries and order activity that ultimately create a buying opportunity over the coming quarters as he thinks the issue should not impact fundamentals in the long run. In regard to suppliers such as Spirit AeroSystems (SPR) and United Technologies (UTX), Lalwani believes disruption will be limited, contrary to market reactions. Among U.S. airlines who operate the 737 MAX, Lalwani said Southwest (LUV) screens as most exposed versus American Airlines (AAL) and United Continental (UAL). For aircraft lessors like Air Lease (AL) and AerCap (AER), a global grounding scenario has "mixed implications," added the analyst. Though he remains comfortable with his Overweight rating and $500 price target on Boeing shares, Lalwani thinks clarity on the path ahead for the 737 will be needed for shares to resume their upward trend.
03/15/19
IMPC
03/15/19
NO CHANGE
Target $78
IMPC
Underperform
United Continental shares offer unfavorable risk/reward, says Imperial Capital
Imperial Capital analyst Michael Derchin says shares of United Continental Holdings (UAL) offer an unfavorable risk/reward opportunity at current levels. United's unit revenue momentum is likely to slow meaningfully and possibly inflect to negative territory by the second half of 2019, Derchin tells investors in a research note. The shares are trading at nearly a 40% premium to American Airlines (AAL) on fiscal 2020 earnings estimates despite relatively similar margin outlooks, adds the analyst. He keeps an Underperform rating on United Continental with a $78 price target.
BA Boeing
$378.90

5.575 (1.49%)

03/12/19
03/12/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Boeing (BA) downgraded to Hold from Buy at Edward Jones. 2. Monster Beverage (MNST) downgraded to Market Perform from Outperform at BMO Capital with analyst Amit Sharma saying Monster's current valuation, both absolute and relative to peers, "may be as good it gets." 3. Coca-Cola (KO) downgraded to Hold from Buy at HSBC with analyst Carlos Laboy saying in "trying to grow the pie," Coke is being required to drive revenues with low-margin brands that may take years to scale up. 4. HP Enterprise (HPE) downgraded to Sell from Neutral at UBS with analyst John Roy saying the company's on-premises hardware sales are being pressured by the growth in public cloud, while the "stock is expecting better." 5. F5 Networks (FFIV) downgraded to Neutral from Overweight at JPMorgan with analyst Samik Chatterjee saying the "expensive" acquisition of NGINX is "tough to digest" given the integration and execution risk. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/13/19
LOOP
03/13/19
NO CHANGE
Target $78
LOOP
Hold
Hexcel may not benefit from aircraft order shift to Airbus, says Loop Capital
Loop Capital analyst Chris Kapsch kept his Hold rating and $78 price target on Hexcel (HXL) in the wake of the Boeing (BA) 737max crisis. The analyst states that the issue appears to be around the plane's software/avionics, with nothing problematic with the composite-intensive plane structure or its engines, but believes that the flight halt by global airlines creates an "adverse sentiment for the entire commercial aero supply chain". While Hexcel is also a supplier for Airbus' (EADSY) A320neo jet, the shift in demand for that aircraft may not balance out the Boeing headwinds in the near term since the production capacity for the A320 remains constrained, Kapsch tells investors.
03/14/19
JPMS
03/14/19
NO CHANGE
Target $450
JPMS
Overweight
Max grounding may cost Boeing 'multiple' of $115M per month, says JPMorgan
Weakness in Boeing shares might persist amid uncertainty about the path forward, especially in an increasingly politicized environment, JPMorgan analyst Seth Seifman tells investors in a research note. The analyst finds it it likely that Boeing will compensate operators for their grounded aircraft and notes "this can take many forms, including both near-term cash and future purchase economics." As a floor, if 737 Max rent is $300,000 per month and there are ~375 in service, the monthly impact would be $115M, Seifman calculates. He points out, however, that airlines will likely seek compensation for the cost of alternative lift, other operating costs, and lost profits, so the final number "could be a multiple of this amount." Further, with the Max planes on the ground, Boeing will likely stop delivering them to airlines that cannot fly them, says the analyst. This should be temporary but not insignificant, he contends, given his estimate that the 737 Max will provide $6B of operating cash flow before working capital this year. However, Seifman adds that Boeing "generates far more cash than any industrial company in the world and this financial strength should be useful." The analyst keeps an Overweight rating on Boeing with a $450 price target. The stock closed yesterday up $1.73 to $377.14.

TODAY'S FREE FLY STORIES

PETS

PetMed Express

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-0.015 (-0.09%)

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FB

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MRNS

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JMU

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EFX

Equifax

$137.29

-2 (-1.44%)

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GES

Guess

$16.64

0.235 (1.43%)

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ZTS

Zoetis

$114.05

-0.91 (-0.79%)

07:56
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  • 06

    Aug

MCFT

MasterCraft Boat Holdings

$18.72

-0.48 (-2.50%)

, HZO

MarineMax

$16.59

-0.025 (-0.15%)

07:56
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07:56
Downgrade
MasterCraft Boat Holdings, MarineMax, Malibu Boats rating change  »

MasterCraft Boat Holdings…

MCFT

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$18.72

-0.48 (-2.50%)

HZO

MarineMax

$16.59

-0.025 (-0.15%)

MBUU

Malibu Boats

$35.20

-1.07 (-2.95%)

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MBUU

Malibu Boats

$35.20

-1.07 (-2.95%)

, HZO

MarineMax

$16.59

-0.025 (-0.15%)

07:54
07/22/19
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Downgrade
Malibu Boats, MarineMax, MasterCraft Boat Holdings rating change  »

Malibu Boats downgraded…

MBUU

Malibu Boats

$35.20

-1.07 (-2.95%)

HZO

MarineMax

$16.59

-0.025 (-0.15%)

MCFT

MasterCraft Boat Holdings

$18.72

-0.48 (-2.50%)

03/08/13
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  • 25

    Jul

BBIO

BridgeBio

$27.51

1.55 (5.97%)

07:53
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HZO

MarineMax

, MBUU

Malibu Boats

$35.20

-1.07 (-2.95%)

07:53
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Downgrade
MarineMax, Malibu Boats, MasterCraft Boat Holdings rating change  »

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HZO

MarineMax

MBUU

Malibu Boats

$35.20

-1.07 (-2.95%)

MCFT

MasterCraft Boat Holdings

$18.72

-0.48 (-2.50%)

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  • 25

    Jul

HON

Honeywell

$172.94

-0.92 (-0.53%)

07:53
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07:53
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Honeywell analyst commentary at Argus »

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  • 03

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TBIO

Translate Bio

$9.35

-0.3 (-3.11%)

07:51
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MORF

Morphic Holding

07:50
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GLMD

Galmed

$6.27

-0.11 (-1.72%)

07:50
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TERP

TerraForm Power

$14.58

-0.29 (-1.95%)

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TERP

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$14.58

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FB

Facebook

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FVCB

FVCBankcorp

$18.28

-0.63 (-3.33%)

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SKX

Skechers

$39.00

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PS

Pluralsight

$29.63

-1.04 (-3.39%)

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CMBM

Cambium Networks

$10.35

0.42 (4.23%)

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GOOGL

Alphabet Class A

$1,131.67

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AMZN

Amazon.com

$1,964.78

-13.57 (-0.69%)

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  • 25

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LK

Luckin Coffee

$20.03

0.07 (0.35%)

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TSLA

Tesla

$258.12

4.3 (1.69%)

07:41
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