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CG

Carlyle Group

$18.86

0.21 (1.13%)

, APO

Apollo Global

$28.86

0.21 (0.73%)

11:30
04/04/19
04/04
11:30
04/04/19
11:30

Perrigo pharmaceuticals unit draws several PE bidders, Bloomberg says

Apollo Global (APO), CVC, Carlyle Group (CG), Altaris and Cerberus are said to be among the bidders for Perrigo's pharmaceuticals unit, which is said to be worth just over $2.5B, according to Bloomberg.

CG

Carlyle Group

$18.86

0.21 (1.13%)

APO

Apollo Global

$28.86

0.21 (0.73%)

PRGO

Perrigo

$48.16

0.63 (1.33%)

  • 01

    May

CG Carlyle Group
$18.86

0.21 (1.13%)

03/29/19
03/29/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Wells Fargo (WFC) downgraded to Hold from Buy at Deutsche Bank with analyst Matt O'Connor saying he sees management and earnings uncertainty after the company announced that CEO and President Tim Sloan will step down effective immediately. 2. RH (RH) downgraded to Hold from Buy at Deutsche Bank with analyst Mike Baker saying he continues to believe in the long-term prospects for RH and acknowledges "that it is one of the few retailers growing sales, margins, profit dollars and earnings." 3. Carlyle Group (CG) downgraded to Neutral from Buy at BofA/Merrill. 4. Comcast (CMCSA) and Charter (CHTR) downgraded to Sector Perform from Outperform at RBC Capital. 5. Mosaic (MOS) downgraded to Neutral from Buy at Citi with analyst P.J. Juvekar saying following Mosaic's analyst day, he feels phosphate fundamentals have weakened in the near term and are unlikely to pick-up significantly "despite the company acting as a swing supplier by curtailing capacity." This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/29/19
BOFA
03/29/19
DOWNGRADE
BOFA
Neutral
Carlyle Group downgraded to Neutral from Buy at BofA/Merrill
BofA/Merrill analyst Michael Carrier downgraded Carlyle Group to Neutral from Buy.
01/14/19
SBSH
01/14/19
NO CHANGE
SBSH
Citi gets more defensive on Brokers & Asset Managers, downgrades five
Citi analyst Citi analyst William Katz is taking a more defense stance on the traditional Brokers & Asset Managers to reflect what he sees as "weak" fundamentals and "still elevated" consensus estimates. The analyst reduced his target multiples across the group and downgraded Affiliated Managers (AMG) and Brightsphere Investment Group (BSIG) to Neutral from Buy as well as Artisan Partners (APAM), Waddell & Reed (WDR) and Franklin Resources (BEN) to Sell from Neutral. Katz calls Och-Ziff Capital (OZM) and LPL Financial (LPLA) his top ideas and also opened a "30 Day Positive Catalyst Watch" for Carlyle Group (CG) and Legg Mason (LM). The analyst recommends pair trades of Overweight AllianceBernstein (AB), underweight Artisan Partners (APAM), and overweight BlackRock (BLK), underweight T. Rowe Price (TROW).
01/04/19
GSCO
01/04/19
UPGRADE
Target $21
GSCO
Buy
Carlyle Group upgraded to Buy from Neutral at Goldman Sachs
Goldman Sachs analyst Alexander Blostein upgraded Carlyle Group to Buy from Neutral with a price target of $21. The analyst contends that the 31% decline in its stock price, which is about double of the 15% peer average decline, does not account for "considerable change" in the company's cash flow stability profile, citing its "significant growth in fee-related earnings and improving backdrop for incentive income". Blostein expects Carlyle Group to deliver a 23% annualized revenue growth through 2020 in spite of the softer macro backdrop.
APO Apollo Global
$28.86

0.21 (0.73%)

01/14/19
JPMS
01/14/19
DOWNGRADE
Target $22
JPMS
Neutral
Arconic downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Michael Gambardella downgraded Arconic (ARNC) to Neutral and lowered his price target for the shares to $22 from $24. The analyst cites valuation for the downgrade. The shares are gradually pricing in a buyout, which is appropriate, Gambardella tells investors in a research note. Bloomberg on January 2 reported that Apollo Global (APO) in talks to buy Arconic for $22 per share.
11/14/18
11/14/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Apple (AAPL) downgraded to Neutral from Buy at Guggenheim with analyst Robert Cihra saying the average selling price of the iPhone has increased a "dramatic" $220, or 40%, over the past 10 years, reflecting its "growing value to both consumer and business markets." 2. Kellogg (K) downgraded to Neutral from Overweight at JPMorgan with analyst Ken Goldman saying that while nothing at the company's investor day "necessarily disappointed" him, he also did not gain "much comfort that the bottom-line turnaround would be swift." 3. Apollo Global (APO) and Carlyle Group (CG) were downgraded to Equal Weight from Overweight at Morgan Stanley. 4. Conagra Brands (CAG) downgraded to Underperform from Market Perform at Bernstein with analyst Alexia Howard saying the frozen category has experienced positive growth over the past year, largely led by new product innovation from Conagra and Pinnacle Foods, but this now seems to be running out of steam. 5. Tenneco (TEN) downgraded to Underweight from Equal Weight at Morgan Stanley with analyst Armintas Sinkevicius citing its elevated leverage and limited free cash flow conversion in what he views as an increasingly uncertain environment for auto suppliers. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/14/18
MSCO
11/14/18
DOWNGRADE
MSCO
Equal Weight
Morgan Stanley downgrades Apollo Global and Carlyle, favors brokers late cycle
As previously reported, Morgan Stanley analyst Michael Cyprys downgraded Apollo Global (APO) and Carlyle Group (CG), each to Equal Weight from Overweight, stating that he sees growing risk to portfolio harvesting and dividends and favors discount brokers in a more volatile, late cycle environment. On Apollo, he said he now has less conviction that cash performance fees can accelerate over the next 12 months given the more volatile market backdrop. On Carlyle, he sees risk to growing cash performance fees with increased market volatility. Cyprys lowered his price target on Apollo shares to $34 from $42 and cut his price target on Carlyle shares to $23 from $31.
11/14/18
MSCO
11/14/18
UPGRADE
MSCO
Overweight
Morgan Stanley upgrades TD Ameritrade, favors brokers late cycle
As previously reported, Morgan Stanley analyst Michael Cyprys upgraded TD Ameritrade (AMTD) to Overweight from Equal Weight, stating that he favors discount brokers in a more volatile, late cycle environment. Among the group, TD Ameritrade has the most countercyclical revenue streams, with 27% of revenue tied to trading commissions that tend to spike in volatile environments, Cyprys tells investors. He raised his price target on TD Ameritrade shares to $65 from $61. Cyprys, who also sees growing risk to portfolio harvesting and dividends, lowered his ratings on alternative asset managers Apollo Global (APO) and Carlyle Group (CG), each to Equal Weight.
PRGO Perrigo
$48.16

0.63 (1.33%)

04/04/19
RHCO
04/04/19
NO CHANGE
Target $46
RHCO
Hold
Perrigo price target lowered to $46 from $51 at SunTrust
SunTrust analyst Gregg Gilbert lowered his price target on Perrigo to $46 and kept his Hold rating, saying his analysis suggests that the earnings dilution from the sale or spin of its Rx Pharma business would be "significant" at over 20%. The analyst adds that his new price target is based on the company's "more conservative growth assumptions" as he looks ahead to more specifics on the separation of its Rx business at the May 9th Investor Day.
12/21/18
CANT
12/21/18
NO CHANGE
Target $107
CANT
Overweight
Cantor Fitzgerald says don't read too much into Perrigo tax headlines
Cantor Fitzgerald analyst Louise Chen tells investors not to read too much into the headlines from Perrigo last night regarding an Irish corporation tax liability. In a research note titled "Bah-Humbug, Don't Let Headlines Ruin The Holidays," Chen says it is "unclear that there is much of a case here." The analyst keeps an Overweight rating on Perrigo with a $107 price target.
03/19/19
RHCO
03/19/19
INITIATION
Target $51
RHCO
Hold
Perrigo initiated with a Hold at SunTrust
SunTrust analyst Gregg Gilbert initiated Perrigo with a Hold rating and a price target of $51, saying that while he remains positive on the durability of the company's consumer-focused businesses, the risk-reward on the stock is "balanced" because of "less clear" growth potential of those businesses. The analyst adds that while the management's decision to separate the Rx business from the Consumer business could be a positive in the long-term, it may take some time for the market to "assess the financial and operational merits of the separation."
02/01/19
WELS
02/01/19
NO CHANGE
Target $46
WELS
Market Perform
Perrigo's ProAir opportunity 'may be vaporizing,' says Wells Fargo
Wells Fargo analyst David Maris noted that GlaxoSmithKline (GSK) launched an authorized generic of Ventolin on January 15 and he has now learned that Teva (TEVA) may have "surprisingly launched" an authorized generic of ProAir in response to the generic Ventolin pressure prior to Perrigo's (PRGO) approval. Pricing pressure from generic Ventolin, in addition to the launch of an authorized generic well ahead of Perrigo's own generic ProAir launch, seem to have significantly diminished Perrigo's generic ProAir opportunity, Maris tells investors. He keeps a Market Perform rating and $46 price target on Perrigo shares.

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$72.91

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Facebook

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PKG

Packaging Corp.

$98.86

0.33 (0.33%)

17:32
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PKG

Packaging Corp.

$98.86

0.33 (0.33%)

17:30
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Breaking Hot Stocks news story on Packaging Corp. »

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TSLA

Tesla

$258.70

-5.15 (-1.95%)

17:30
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  • 24

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FOLD

Amicus

$13.15

-0.12 (-0.90%)

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FB

Facebook

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-1.13 (-0.61%)

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PKG

Packaging Corp.

$98.86

0.33 (0.33%)

17:29
04/24/19
04/24
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Earnings
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TSLA

Tesla

$258.70

-5.15 (-1.95%)

17:29
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  • 24

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MEOH

Methanex

$57.37

-1.63 (-2.76%)

17:28
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TSLA

Tesla

$258.70

-5.15 (-1.95%)

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MKGI

Monaker Group

$2.62

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TSLA

Tesla

$258.70

-5.15 (-1.95%)

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TSLA

Tesla

$258.70

-5.15 (-1.95%)

17:25
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Earnings
Tesla reaffirms guidance of 360K-400K vehicle deliveries in 2019 »

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IVZ

Invesco

$21.53

-0.09 (-0.42%)

17:25
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Conference/Events
Washington Association of Money Managers to hold a meeting »

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CB

Chubb

$140.51

1.94 (1.40%)

17:25
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Economic Club of Washington, D.C. to hold a dinner meeting »

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FB

Facebook

$182.64

-1.13 (-0.61%)

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MTOR

Meritor

$24.83

0.21 (0.85%)

17:23
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TSLA

Tesla

$258.70

-5.15 (-1.95%)

17:22
04/24/19
04/24
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Hot Stocks
Tesla said deliveries of Model S, Model X declined to 12,100 in Q1 »

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  • 24

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TSLA

Tesla

$258.70

-5.15 (-1.95%)

17:20
04/24/19
04/24
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Hot Stocks
Tesla said produced 63K Model 3 vehicles in Q1 »

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