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WAB

Wabtec

$70.62

0.62 (0.89%)

09:55
03/26/19
03/26
09:55
03/26/19
09:55

Wabtec put volume heavy and directionally bearish

Bearish flow noted in Wabtec with 5,183 puts trading, or 25x expected. Most active are May-19 65 puts and May-19 60 puts, with total volume in those strikes near 4,600 contracts. The Put/Call Ratio is 5183, while ATM IV is up over 1 point on the day. Earnings are expected on April 23rd.

WAB Wabtec
$70.62

0.62 (0.89%)

01/28/19
GDHS
01/28/19
NO CHANGE
Target $7
GDHS
Underperform
GE could shift to GAAP accounting, causing stock drop, says Gordon Haskett
New General Electric (GE) CEO Larry Culp likely has every intention of establishing a 2019 guidance framework that the company can actually achieve, which would be welcomed by investors after years of "non-credible GE guidance, perpetual exaggerations, opaque disclosure and aggressive accounting," Gordon Haskett analyst John Inch told investors earlier in a research note titled "Move to GAAP could drive stock hit." The analyst has an Underperform rating on General Electric with a $7 price target. The stock in morning trading is down 33c to $8.83. He believes Larry Culp, in contrast with previous CEO John Flannery, is going to want to set a guidance bar that GE "can at least hit." In turn, while GE may not be able to adopt more conservative accounting while under government investigation, a move to GAAP would at least demonstrate Culp's directional willingness to abandon the "inflated and exaggerated earnings presentation practices of the past," says Inch. However, if GE were to move to GAAP accounting, its share price would move lower, driven by a lower GAAP impact on consensus, the analyst contends. Further, GE's accounting could still be viewed as aggressive under a GAAP presentation framework, adds Inch. As such, he thinks subsequent future restatements from the adoption of more conservative accounting "could readily ensue." Inch also sees risks in GE's revised deal with Wabtec deal (WAB).
02/22/19
JEFF
02/22/19
INITIATION
Target $80
JEFF
Hold
Wabtec initiated with a Hold at Jefferies
Jefferies analyst Saree Boroditsky started Wabtec (WAB) with a Hold rating and $80 price target. The analyst views Wabtec as a "solid" long-term industrial, but is cautious on entering the stock given the potential negative impact on equipment demand from Precision Scheduled Railroading adoption and the "technical overhang" created by the GE (GE) Transportation merger closing next week.
02/22/19
02/22/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Nvidia (NVDA) initiated with an Overweight at Atlantic Equities. 2. United Technologies (UTX) resumed with an Overweight at JPMorgan. 3. Wabtec (WAB) initiated with a Hold at Jefferies. 4. STMicroelectronics (STM) initiated with an Outperform at Cowen. 5. Biogen (BIIB) 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.
02/26/19
UBSW
02/26/19
NO CHANGE
Target $13
UBSW
Buy
UBS boosts General Electric target to $13, sees fading leverage concerns
UBS analyst Peter Lennox-King raised his price target for General Electric (GE) to $13 from $12 and keeps a Buy rating on the shares. The stock closed yesterday up 6%, or 65c, to $10.82. With net proceeds of $20.5B from the BioPharma unit sale to Danaher (DHR), $2.9B in cash from Wabtec (WAB), $3.8B in new Wabtec shares, and $13B in Baker Hughes (BHGE) shares, GE has assets "well beyond" the $30B of Industrial debt reduction targeted last month, Lennox-King tells investors in a research note. This comes while the company retains ownership of ~$3B in Healthcare EBITDA, adds the analyst, who now could even envision a scenario of year-end 2020 leverage of below two times. As leverage concerns fade, Lennox-King expects investor focus to shift to GE's "fundamental turnaround."

TODAY'S FREE FLY STORIES

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MDR

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FANG

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WVE

Wave Life Sciences

$27.21

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FELE

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$48.00

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FELE

Franklin Electric

$47.99

-3.17 (-6.20%)

11:43
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Franklin Electric rating change at Boenning & Scattergood »

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AVP

Avon Products

$2.68

0.08 (3.08%)

11:40
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HRL

Hormel Foods

$39.38

-1.06 (-2.62%)

, SJM

J.M. Smucker

$121.47

0.26 (0.21%)

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EROS

Eros International

$8.15

0.13 (1.62%)

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LMT

Lockheed Martin

$336.20

20.96 (6.65%)

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COP

ConocoPhillips

$67.23

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LYFT

Lyft

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SCON

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$1.71

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LMT

Lockheed Martin

$335.50

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$NSD

NASDAQ Market Internals

$0.00

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$NYE

NYSE Market Internals

$0.00

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HRL

Hormel Foods

$39.27

-1.17 (-2.89%)

11:15
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Options
Hormel Foods put volume heavy and directionally bearish »

Bearish flow noted in…

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KSS

Kohl's

$72.84

5.41 (8.02%)

, AMZN

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24.9 (1.32%)

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KSS

Kohl's

$72.84

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AMZN

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$1,913.00

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General news
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KSS

Kohl's

$72.84

5.41 (8.02%)

, AMZN

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$1,913.00

24.9 (1.32%)

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Hot Stocks
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KSS

Kohl's

$72.84

5.41 (8.02%)

AMZN

Amazon.com

$1,913.00

24.9 (1.32%)

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