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DOW

Dow Inc.

$58.25

1.28 (2.25%)

, EQT

EQT Corporation

$21.17

0.95 (4.70%)

09:55
04/04/19
04/04
09:55
04/04/19
09:55

Early notable gainers among liquid option names on April 4th

Notable gainers among liquid option names this morning include Dow Chemical (DOW) $59.26 +2.36, EQT Corporation (EQT) $20.88 +0.81, Signet Jewelers (SIG) $28.62 +0.84, PG&E (PCG) $18.96 +0.50, and Harley Davidson (HOG) $38.89 +0.93.

DOW

Dow Inc.

$58.25

1.28 (2.25%)

EQT

EQT Corporation

$21.17

0.95 (4.70%)

SIG

Signet Jewelers

$28.20

0.4 (1.44%)

PCG

PG&E

$18.91

0.24 (1.29%)

HOG

Harley-Davidson

$38.91

0.7 (1.83%)

  • 23

    Apr

  • 25

    Apr

DOW Dow Inc.
$58.25

1.28 (2.25%)

04/03/19
HSBC
04/03/19
INITIATION
Target $53
HSBC
Hold
Dow Inc. initiated with a Hold at HSBC
HSBC initiated Dow Inc. with a Hold and $53 price target.
04/03/19
UBSW
04/03/19
INITIATION
Target $70
UBSW
Buy
Dow Inc. initiated with a Buy at UBS
UBS analyst John Roberts started Dow Inc. with a Buy rating and $70 price target. The shares, trading at less than estimated 2020 EBITDA, "significantly" undervalue the ~50% more specialty products in the company's portfolio, Roberts tells investors in a research note. He finds the stock "very attractive" on a cash flow/return standpoint.
04/03/19
SBSH
04/03/19
INITIATION
Target $67
SBSH
Buy
Dow Inc. initiated with a Buy at Citi
Citi analyst P.J. Juvekar started Dow Inc. (DOW) with a Buy rating and $67 price target. Downside risk is limited as the shares have priced in an expected downturn in the ethylene cycle and trade at ~19% discount to peers, Juvekar tells investors in a research note. He believes technical selling of Dow shares by DowDuPont (DWDP) shareholders who don't want commodity exposure could create buying opportunities. Further, the analyst notes that Dow shares have historically outperformed the broader chemicals industry three-to-six months before margins bottom out, and he see this cycle's trough occurring in the second half of 2019.
04/03/19
04/03/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. GrubHub (GRUB) initiated with a Buy at BTIG. 2. AMD (AMD) and Intel (INTC) initiated with a Buy at Nomura Instinet, while Nvidia (NVDA) and Xilinx (XLNX) were initiated with a Neutral. 3. Futu (FHL) initiated with a Neutral at Goldman Sachs. 4. Square (SQ) initiated with a Market Perform at Bernstein. 5. DowDuPont (DWDP) and Dow Inc. (DOW) initiated with a Buy at UBS. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
EQT EQT Corporation
$21.17

0.95 (4.70%)

12/14/18
FBCO
12/14/18
INITIATION
Target $25
FBCO
Neutral
Equitrans Midstream initiated with a Neutral at Credit Suisse
Credit Suisse analyst Spiro Dounis initiated Equitrans Midstream (ETRN) with a Neutral rating and $25 price target following its spinoff from parent EQT (EQT) last month. The analyst tells investors in a research note that he sees average ~7% DPU growth and prefer the simpler structure, but views current valuation as full for Equitrans on a SOTP basis and for the underlying EQT Midstream (EQM) units.
02/06/19
JPMS
02/06/19
DOWNGRADE
Target $54
JPMS
Neutral
EQT Midstream Partners downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Jeremy Tonet downgraded EQT Midstream Partners (EQM) to Neutral and lowered his price target for the shares to $54 from $55. The analyst believes challenges at the Mountain Valley Pipeline and slowed down production growth by EQT Corporation (EQT) will bring an "extended overhang" on EQT Midstream that "could prevent a positive rerating." Further, he continues to view the need for EQT Midstream's 6%-8% distribution growth at the expense of straining financial flexibility as unclear.
01/07/19
RBCM
01/07/19
DOWNGRADE
Target $27
RBCM
Sector Perform
EQT Corporation downgraded to Sector Perform at RBC Capital on valuation
As reported earlier, RBC Capital analyst Scott Hanold downgraded EQT Corp to Sector Perform with an unchanged price target of $27. The analyst cites the "relative valuation and uncertainty on recent investor activism" in his rating change, saying that while the stock price has bridged some of the valuation gap on activist efforts by Rice Energy management team, the outcome of those efforts remains "cloudy" in the near term. Longer term, Hanold contends that EQT is "well positioned with a large asset base focused in the Appalachian Basin" and also some offering "some of the most economic natural gas assets in North America".
01/07/19
RBCM
01/07/19
DOWNGRADE
RBCM
Sector Perform
EQT Corporation downgraded to Sector Perform from Outperform at RBC Capital
SIG Signet Jewelers
$28.20

0.4 (1.44%)

01/18/19
01/18/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Signet Jewelers (SIG) downgraded to Sell from Neutral at Citi with analyst Paul Lejuez saying in what was one of the strongest years from the consumer since the recession, Signet's comps and margins have been under pressure. 2. Casa Systems (CASA) downgraded to Equal Weight from Overweight at Morgan Stanley and to Hold from Buy at Stifel. 3. Sandy Spring Bancorp (SASR) downgraded to Hold from Buy at Sandler O'Neill and to Market Perform from Outperform at Keefe Bruyette. 4. Interpublic Group (IPG) downgraded to Sector Perform from Outperform at RBC Capital with analyst Steven Cahall saying he expects the company's organic growth to decelerate in 2019 after "recent account losses," stating that after a "fantastic" organic growth rate of 4.6%, Interpublic Group is now facing tougher comps. 5. Nautilus (NLS) downgraded to Neutral from Buy at Sidoti, DA Davidson, and B. Riley FBR, as well as to Hold from Buy at Lake Street. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/18/19
SBSH
01/18/19
DOWNGRADE
SBSH
Sell
Signet Jewelers downgraded to Sell from Neutral at Citi
Citi analyst Paul Lejuez downgraded Signet Jewelers to Sell.
01/18/19
NOMU
01/18/19
NO CHANGE
Target $26
NOMU
Neutral
Signet Jewelers price target lowered to $26 from $42 at Nomura Instinet
Nomura Instinet analyst Simeon Siegel lowered his price target for Signet Jewelers to $26 citing the company's "disappointing" holiday update. The analyst remains "wary of ongoing uncertainties across the business into next year" and keeps a Neutral rating on the shares.
01/18/19
SBSH
01/18/19
DOWNGRADE
Target $20
SBSH
Sell
Citi sees further downside in Signet Jewelers, downgrades to Sell
Citi analyst Paul Lejuez downgraded Signet Jewelers to Sell from Neutral and cut his price target for the shares to $20 from $41. In what was one of the strongest years from the consumer since the recession, Signet's comps and margins have been under pressure, Lejuez tells investors in a research note. The analyst now believes Signet's earnings power is "even lower than we originally thought and what's currently being priced in." Further, Signet is one of the stocks most vulnerable in an economic slowdown, adds Lejuez. He sees further share downside despite yesterday's pullback.
PCG PG&E
$18.91

0.24 (1.29%)

02/26/19
ARGS
02/26/19
UPGRADE
ARGS
Hold
PG&E upgraded to Hold from Sell at Argus
02/13/19
MZHO
02/13/19
NO CHANGE
Target $15
MZHO
Neutral
PG&E shares should not be driven by possible FERC contract ruling, says Mizuho
Speculation about a possible court ruling on whether the Federal Energy Regulatory Commission has the authority to block the rejection of contracts under the filed rate doctrine principal should not be a driver in the value of PG&E shares, Mizuho analyst Paul Fremont tells investors in a research note titled "50 Ways to Leave Your Lover." The analyst believes the rejection of purchase power agreements contracts would not add anything to the long-term equity value of PG&E when it emerges from bankruptcy. However, potential savings, which would likely be significant, could provide leverage in negotiations with California State politicians and regulators prior to exiting bankruptcy, adds Fremont. He attributes the stock's current value to the market anticipating a ruling by the bankruptcy court in the next month on whether FERC has the authority to interfere with PG&E's right to reject contracts under the filed rate doctrine principal. The analyst keeps a Neutral rating on PG&E with a $15 price target.
02/19/19
SBSH
02/19/19
UPGRADE
Target $31
SBSH
Buy
PG&E upgraded to Buy from Neutral at Citi
Citi analyst Praful Mehta upgraded PG&E to Buy with a $31 price target. Recent comments by California Governor Gavin Newsom indicate an "increasingly likelihood of legislative action," Mehta tells investors in a research note. The analyst believes legislation could limit PG&E's future wildfire risk and unlock "significant upside" in the shares. While Mehta expects legislative action, he "conservatively" assumes "some liabilities" from 2019 fires. PG&E in premarket trading is up 8%, or $1.20, to $16.68.
02/19/19
02/19/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. McDonald's (MCD) upgraded to Overweight from Equal Weight at Stephens with analyst Will Slabaugh saying McDonald's core U.S. business is accelerating and positioned to show upside to consensus estimates for Q1 and fiscal 2019. 2. PG&E (PCG) upgraded to Buy from Neutral at Citi with analyst Praful Mehta saying recent comments by California Governor Gavin Newsom indicate an "increasingly likelihood of legislative action." 3. PepsiCo (PEP) upgraded to Outperform from Neutral at Macquarie with analyst Caroline Levy saying new CEO Ramon Laguarta "moved decisively" to reset for sustained 4%-6% sales growth by stepping up marketing and capital spending. 4. Freeport McMoRan (FCX) upgraded to Buy from Neutral at Citi while Southern Copper (SCCO) was double upgraded to Buy from Sell. 5. Cosan (CZZ) upgraded to Overweight from Neutral at JPMorgan with analyst Lucas Ferreira saying the shares trade at an "excessive" 40% discount to net asset value, in the upper part of the 30%-40% range where the stock should be trading. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
HOG Harley-Davidson
$38.91

0.7 (1.83%)

02/01/19
MSCO
02/01/19
NO CHANGE
Target $50
MSCO
Overweight
Harley-Davidson management face 'clear strategic decision,' says Morgan Stanley
Following Harley-Davidson's Q4 results and weaker than expected 2019 guidance, Morgan Stanley analyst Adam Jonas said the narrative continues to be dominated by disappointing sales and lower margins, concluding that the secular pressures facing the motorcycle industry "appear to be well-entrenched." Given this, he believes Harley-Davidson management are faced with a "clear strategic decision" to either undergo a step-change in culture and product to focus on younger buyers or execute marginal adaptations while being "true to the core" and returning all excess cash as a runoff to investors. While he sees the latter option as less ambitious, he also thinks it has a greater likelihood of creating lasting value for shareholders. By rolling forward his hypothetical LBO valuation model to a 2019 start date, Jonas lowered his price target on Harley shares to $50 from $53, though he keeps an Overweight rating on the stock citing the cash generation of the core business as well as the "potentially untapped potential of the Harley-Davidson brand" for products such as a 4-wheel sports utility vehicle or truck.
03/12/19
BARD
03/12/19
NO CHANGE
Target $40
BARD
Neutral
Harley-Davidson dealer checks show no evidence of inflection, says Baird
Baird analyst Craig Kennison says his firm contacted Harley-Davidson dealers to assess early 2019 trends, and tells investors in a research note that sentiment remains challenged as dealers again reported soft retail trends, leaving Kennison comfortable with his U.S. retail forecast of -10%. Following efforts to de-stock dealers over the past several quarters, Kennison says dealer inventory appears close to balanced, and adds that his firm's checks show no evidence of an inflection and his outlook is unchanged. He believes believe Harley is most suitable for patient investors that recognize the long-term value in the franchise. Kennison has a Neutral rating and $40 price target on Harley-Davidson.
03/21/19
UBSW
03/21/19
NO CHANGE
Target $39
UBSW
Neutral
Harley-Davidson likely lost market share in past two months, says UBS
UBS analyst Robin Farley kept his Neutral rating and $39 price target on Harley-Davidson, saying that retail sales at the dealer level have likely declined in high single digits during January-February while the industry may have fared better. The analyst believes that although the seasonal comps were easier, weather issues around polar vortex and heavy rains in California may have "exacerbated the retail declines".
04/03/19
LBOW
04/03/19
NO CHANGE
LBOW
Neutral
Polaris Industries estimates cut after dealer checks at Longbow
Longbow analyst David MacGregor lowered his first half of 2019 estimates for Polaris Industries (PII) after his dealer checks showed that off-road vehicle sales faced multiple headwinds in Q1, including weather, price increases, and increasing financing rates. Also, dealers said there was an "underwhelming response" to Polaris' Spring Sales Event, according to MacGregor, who keeps a Neutral rating on the stock. MacGregor added that he expects Harley-Davidson (HOG) again lost share in Q1 to Polaris' Indian motorcycle line.

TODAY'S FREE FLY STORIES

SCHW

Charles Schwab

$45.57

-0.53 (-1.15%)

17:04
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Charles Schwab to hold a webcast »

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MedMen

$0.00

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TKC

Turkcell

$5.49

-0.175 (-3.09%)

11:08
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FCCY

1st Constitution Bancorp

$18.07

-0.14 (-0.77%)

11:05
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Earnings
1st Constitution Bancorp reports Q1 EPS 39c, two estimates 36c »

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QUMU

Qumu

$2.83

-0.035 (-1.22%)

11:03
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  • 01

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  • 09

    May

FAT

Fat Brands

$5.15

0.065 (1.28%)

10:54
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HRTG

Heritage Insurance

$14.32

0.25 (1.78%)

10:52
04/19/19
04/19
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  • 01

    May

COTY

Coty

$11.27

0.02 (0.18%)

10:48
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NTES

NetEase

$265.88

-2.34 (-0.87%)

10:45
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09:10
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General news
Today's U.S. housing report revealed March declines »

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General news
U.S. housing starts fell 0.3% to 1.139 M in March »

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NDEKY

Nitto Denko

$0.00

(0.00%)

06:53
04/19/19
04/19
06:53
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06:53
Downgrade
Nitto Denko rating change at Goldman Sachs »

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CURO

Curo Group

$10.96

0.16 (1.48%)

04:55
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Conference/Events
Curo Group management to meet with Jefferies »

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  • 19

    Apr

  • 16

    May

  • 05

    Jun

  • 13

    Nov

04:55
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General news
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General news
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AON

Aon plc

$175.38

-0.14 (-0.08%)

, MMC

Marsh & McLennan

$93.76

-0.62 (-0.66%)

04:55
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Conference/Events
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AON

Aon plc

$175.38

-0.14 (-0.08%)

MMC

Marsh & McLennan

$93.76

-0.62 (-0.66%)

WLTW

Willis Towers Watson

$177.37

0.45 (0.25%)

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  • 19

    Apr

  • 25

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    Apr

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  • 07

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  • 16

    May

  • 20

    May

  • 11

    Jun

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ISRG

Intuitive Surgical

$528.04

3.29 (0.63%)

21:07
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  • 18

    Apr

  • 25

    Apr

  • 03

    May

UBER

Uber

$0.00

(0.00%)

, TM

Toyota

$125.10

0.93 (0.75%)

20:35
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Toyota

$125.10

0.93 (0.75%)

DNZOY

Denso

$0.00

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SFTBF

SoftBank

$0.00

(0.00%)

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  • 05

    Jun

FIX

Comfort Systems USA

$57.58

0.06 (0.10%)

20:08
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  • 05

    Jun

  • 12

    Jun

  • 13

    Jun

NSANY

Nissan

$0.00

(0.00%)

, RNSDF

Renault

$0.00

(0.00%)

19:29
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19:29
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19:29
Periodicals
Nissan to cut global output by 15% in FY19/20, Nikkei reports »

Nissan Motor (NSANY) will…

NSANY

Nissan

$0.00

(0.00%)

RNSDF

Renault

$0.00

(0.00%)

03/08/13
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