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TWNK

Hostess Brands

$11.91

-0.05 (-0.42%)

, K

Kellogg

$56.65

-0.09 (-0.16%)

10:24
03/25/19
03/25
10:24
03/25/19
10:24

Ferrero, Hostess lead contenders for Kellogg's Keebler, CNBC reports

Hostess Brands (TWNK) and Nutella-owner Ferrero are competing as front-runners to acquire Kellogg's (K) Keebler, Famous Amos and fruit snacks businesses, in a deal that could value the brands at roughly $1.5B, CNBC's Lauren Hirsch reports, citing people familiar with the matter. Both Hostess and Ferrero put in final offers for the cookie and fruit snacks brands this past Thursday, the publication notes, adding that while other buyers are still in contention, the two are viewed as front-runners. Reference Link

TWNK

Hostess Brands

$11.91

-0.05 (-0.42%)

K

Kellogg

$56.65

-0.09 (-0.16%)

  • 26

    Apr

TWNK Hostess Brands
$11.91

-0.05 (-0.42%)

09/26/18
09/26/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. First Cash Financial (FCFS) initiated with an Overweight at Barclays. 2. Hostess Brands (TWNK) initiated with a Neutral at Citi. 3. Repligen (RGEN) initiated with a Neutral at H.C. Wainwright. 4. Evofem (EVFM) initiated with an Overweight at Cantor Fitzgerald. 5. Elanco (ELAN) initiated with a Market Perform at BMO Capital. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
10/01/18
SPHN
10/01/18
NO CHANGE
Target $15
SPHN
Overweight
Hostess' CEO re-bases earnings to 'achiveable' level for FY18, says Stephens
Stephens analyst Farha Aslam reiterated an Overweight rating and $15 price target on Hostess Brands, telling investors in a research note that shares have been weak given challenging market conditions in the baked sweet goods category and losses related to the new Cloverhill bakery. Aslam expects the baked sweet goods category to remain competitive, but acknowledges that new CEO Andy Callahan has re-based earnings to a level that is likely achievable in fiscal 2018. She views the turnaround at the Cloverhill bakery as a significant earnings driver and a meaningful long-term positive
12/06/18
JPMS
12/06/18
UPGRADE
Target $14
JPMS
Overweight
Hostess Brands upgraded to Overweight from Neutral at JPMorgan
JPMorgan analyst Ken Goldman upgraded Hostess Brands (TWNK) to Overweight and raised his price target for the shares to $14 from $13. By this time next year, today's two major headwinds - lost business with Walmart (WMT) and the "EBITDA-hemorrhaging" Cloverhill acquisition - will be lapped and potentially become tailwinds, Goldman tells investors in a research note. The analyst, however, does not yet recommend the Hostess shares for investors with shorter-term horizons as he suspects that the Walmart turnaround is taking longer than management anticipated. Nonetheless, he thinks the stock's risk/reward over the next 12-plus months is favorable.
12/06/18
12/06/18
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. Activision Blizzard (ATVI) upgraded to Overweight from Neutral at JPMorgan with analyst Alexia Quadrani saying the stock is down 45% from an all-time high in early October, and now trades at 16.5 times forward consensus earnings, compared to 25.5 times and 23.0 times on average over the prior one and three year periods. 2. Bristol-Myers (BMY) upgraded to Outperform from Market Perform at BMO Capital with analyst Alex Arfaei saying the risk-reward on the stock at current price "seems attractive." 3. Hostess Brands (TWNK) upgraded to Overweight from Neutral at JPMorgan analyst Ken Goldman saying by this time next year, today's two major headwinds - lost business with Walmart (WMT) and the "EBITDA-hemorrhaging" Cloverhill acquisition - will be lapped and potentially become tailwinds. 4. Spirit Airlines (SAVE) upgraded to Outperform from Neutral at with analyst Jose Caiado De Sousa saying after a "massive" Q4 unit revenue guidance boost last week, the analyst sees further upside in the equity into H1 of 2019, with expected continued momentum in non-ticket revenue production amid a lower oil environment and a benign competitive backdrop. 5. Synopsys (SNPS) upgraded to Buy from Hold at Benchmark with analyst Gary Mobley citing slightly better than expected Q4 results and in-line FY19 guidance. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
K Kellogg
$56.65

-0.09 (-0.16%)

02/08/19
JPMS
02/08/19
NO CHANGE
Target $56
JPMS
Neutral
Kellogg price target lowered to $56 from $66 at JPMorgan
JPMorgan analyst Ken Goldman lowered his price target for Kellogg to $56 following the company's "low-quality" Q4 earnings beat and 2019 earnings guidance that came in well below the Street. The analyst says that until he sees an indication that margin erosion is waning, "it is prudent to model conservatively." He keeps a Neutral rating on Kellogg.
02/08/19
BMOC
02/08/19
NO CHANGE
Target $62
BMOC
Market Perform
Kellogg price target lowered to $62 from $70 at BMO Capital
BMO Capital analyst Kenneth Zaslow lowered his price target on Kellogg to $62 and kept his Market Perform rating, citing the company's "low quality" Q4 results. The analyst notes that the earnings beat was driven by "tax favorability", which more than offset slightly lower revenue and operating profit. Zaslow adds that while the company has returned to organic growth, its "effectiveness to accelerate profit growth by shifting to growth over margins has come into question."
02/08/19
02/08/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Fiat Chrysler (FCAU) downgraded to Equal Weight from Overweight at Barclays with analyst Brian Johnson saying he is surprised by the "NAFTA earnings plateau" and views the company's 2020 targets as aggressive. 2. Kellogg (K) downgraded to Hold from Buy at Pivotal Research with analyst Timothy Ramey saying the company's adjusted earnings in Q4 disappointed and it "celebrated 0% organic top line growth for the year citing the heavy lift of reversing the negative trajectory." 3. NXP Semiconductors (NXPI) downgraded to Neutral from Buy at Mizuho with analyst Vijay Rakesh saying with the stock up 40% from the December lows, high China auto inventory and Europe's Worldwide Harmonised Light Vehicle Test Procedure "could present challenges and limit upside." 4. Synaptics (SYNA) downgraded to Neutral from Overweight at JPMorgan with analyst Paul Coster saying the company reported "solid" fiscal Q2 results, driven by further improvement in gross margins, but issued "slightly disappointing" Q3 guidance owing to soft demand in the handset market. 5. Knowles (KN) downgraded to Hold from Buy at Lake Street with analyst Jaeson Schmidt saying while the company can be the dominant player in the market and think its share at Apple (AAPL) is set to remain stable in the future, increasing uncertainty on the health of the global smartphone market could create headwinds to the stock's multiple. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/19/19
ARGS
03/19/19
NO CHANGE
Target $65
ARGS
Buy
Kellogg price target lowered to $65 from $74 at Argus
Argus analyst Chris Graja lowered his price target on Kellogg to $65 and also lowered his FY19 EPS outlook to $4.00 from $4.60 to reflect his assumption of lower pension income and higher tax rate than anticipated. The analyst is also keeping his Buy rating however, stating that while Kellogg's operating environment is challenging, it should benefit from cost saving initiatives and recent acquisitions as well as its geographic focus shift toward emerging markets. Graja adds that the company has reduced costs and is now focusing on growth initiatives amid changes in consumers' perceptions about food, shopping habits, and the retailer environment.

TODAY'S FREE FLY STORIES

PLMR

Palomar

20:27
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20:27
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ASAZY

Assa Abloy

$0.00

(0.00%)

20:23
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20:23
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Assa Abloy rating change at JPMorgan »

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RXEEY

Rexel

$0.00

(0.00%)

20:23
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Rexel rating change at JPMorgan »

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TATYY

Tate & Lyle

$0.00

(0.00%)

20:22
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AUO

AU Optronics

$0.00

(0.00%)

20:20
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AU Optronics rating change at Morgan Stanley »

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LPL

LG Display

$6.22

0.115 (1.89%)

20:17
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12/08
20:17
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20:17
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LG Display rating change at Morgan Stanley »

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  • 09

    Dec

ETNB

89bio

$28.38

0.86 (3.13%)

20:16
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ANIOY

Acerinox

$0.00

(0.00%)

20:15
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20:15
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20:15
Upgrade
Acerinox rating change at Jefferies »

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BPMC

Blueprint Medicines

$78.50

3.92 (5.26%)

20:15
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12/08
20:15
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20:15
Conference/Events
Blueprint Medicines to hold an anlayst and investor event »

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  • 08

    Dec

  • 08

    Dec

TLSNY

Telia

$0.00

(0.00%)

20:14
12/08/19
12/08
20:14
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20:14
Downgrade
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ARWR

Arrowhead

$67.25

1.705 (2.60%)

20:13
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20:13
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Recommendations
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ARGX

Argenx

$147.31

-2.56 (-1.71%)

20:08
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  • 16

    Dec

STC

Stewart

$43.16

0.28 (0.65%)

19:56
12/08/19
12/08
19:56
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19:56
Downgrade
Stewart rating change at Keefe Bruyette »

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FAF

First American

$63.05

(0.00%)

19:55
12/08/19
12/08
19:55
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19:55
Downgrade
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  • 13

    Feb

PFSI

PennyMac Financial

$33.91

0.12 (0.36%)

19:54
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19:54
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19:54
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PennyMac Financial rating change at Keefe Bruyette »

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AGIO

Agios Pharmaceuticals

$40.93

0.81 (2.02%)

18:40
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Agios Pharmaceuticals analyst commentary at Piper Jaffray »

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  • 09

    Dec

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    Dec

BPMC

Blueprint Medicines

$78.50

3.92 (5.26%)

18:34
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  • 08

    Dec

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    Dec

FATE

Fate Therapeutics

$13.64

0.07 (0.52%)

18:29
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RCKT

Rocket Pharmaceuticals

$22.37

2.61 (13.21%)

18:05
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  • 08

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ARGX

Argenx

$147.31

-2.56 (-1.71%)

, JNJ

Johnson & Johnson

$140.36

0.79 (0.57%)

18:03
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ARGX

Argenx

$147.31

-2.56 (-1.71%)

JNJ

Johnson & Johnson

$140.36

0.79 (0.57%)

03/08/13
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  • 08

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    Jan

BLUE

Bluebird Bio

$79.51

-1.24 (-1.54%)

, JNJ

Johnson & Johnson

$140.36

0.79 (0.57%)

17:58
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Piper says…

BLUE

Bluebird Bio

$79.51

-1.24 (-1.54%)

JNJ

Johnson & Johnson

$140.36

0.79 (0.57%)

AMGN

Amgen

$233.74

0.3 (0.13%)

BMY

Bristol-Myers

$59.94

0.435 (0.73%)

REGN

Regeneron

$372.26

4.02 (1.09%)

03/08/13
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  • 08

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    Dec

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BGNE

BeiGene

$186.89

-2.3 (-1.22%)

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  • 09

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LLY

Eli Lilly

$119.59

-0.175 (-0.15%)

16:34
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  • 08

    Dec

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  • 17

    Dec

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    Jan

BMY

Bristol-Myers

$59.94

0.435 (0.73%)

16:32
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  • 08

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QURE

uniQure

$66.06

1.5 (2.32%)

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  • 09

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