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BA

Boeing

$391.97 /

-4.02 (-1.02%)

07:33
04/08/19
04/08
07:33
04/08/19
07:33

Cowen keeps Boeing at Outperform, cuts price target to $460 on 737 rate cut

Cowen analyst Cai von Rumohr said the MCAS technical issues that Boeing has identified in its 737 MAX look "very fixable" and he is confident that the company's proposed software and training update will correct the deficiencies with the still-grounded plane. However, the 737 MAX "crisis has morphed into a bigger PR issue" affecting Boeing's brand image, acknowledged the analyst, who lowered his price target on Boeing shares to $460 from $475 after the company cut its 737 rate to 42 per month. The temporary production cut makes sense given that it looks like a fix and FAA testing could delay a resumption of MAX deliveries to U.S. carriers until June, von Rumohr tells investors. The analyst, who thinks 2020 free cash flow can still ramp to $17B, or $30 per share, reiterates an Outperform rating on Boeing shares.

  • 24

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BA Boeing
$391.97 /

-4.02 (-1.02%)

04/08/19 Canaccord
Boeing's 737 rate reduction reflects greater uncertainty, says Canaccord
04/08/19 Canaccord
Spirit AeroSystems downgraded to Hold from Buy at Canaccord
04/08/19 BofA
BofA Merrill downgrades Boeing to Neutral on signs of longer 737 delay

TODAY'S FREE FLY STORIES

Earnings
PNM Resources backs FY20 EPS view of $2.16-$2.26, consensus $2.22  06:39
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PNM

PNM Resources

$49.77 /

-2.49 (-4.76%)

 
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Earnings
PNM Resources reports Q4 EPS 36c, consensus 33c » 06:38
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PNM

PNM Resources

$49.77 /

-2.49 (-4.76%)

"Financial results…

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Heico upgraded to Neutral from Sell at UBS » 06:37
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HEI

Heico

$105.26 /

+1.81 (+1.75%)

UBS analyst Louis…

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Recommendations
Whiting Petroleum price target lowered to $2 from $7 at Ladenburg » 06:37
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WLL

Whiting Petroleum

$1.71 /

-0.555 (-24.56%)

Ladenburg Thalmann…

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Hot Stocks
DPW Holdings unit terminates agreement to buy two broker-dealers » 06:35
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DPW

DPW Holdings

$1.19 /

-0.165 (-12.22%)

DPW Holdings announced on…

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Earnings
Magellan Health sees FY20 adjusted EPS $3.34-$4.14, consensus $4.70 » 06:33
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MGLN

Magellan Health

$65.73 /

-1.41 (-2.10%)

Sees FY20 revenue…

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Recommendations
BioMarin price target raised to $105 from $95 at Citi » 06:33
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BMRN

BioMarin

$89.86 /

-1.54 (-1.68%)

Citi analyst Mohit Bansal…

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Earnings
Magellan Health reports Q4 adjusted EPS $1.24, consensus 97c » 06:32
02/28/20
02/28
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MGLN

Magellan Health

$65.73 /

-1.41 (-2.10%)

Reports Q4 revenue $1.8B,…

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Recommendations
Regeneron price target raised to $540 from $420 at Citi » 06:31
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06:31
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REGN

Regeneron

$431.28 /

-26.97 (-5.89%)

Citi analyst Mohit Bansal…

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Earnings
Strategic Education reports Q4 adjusted EPS $2.13, consensus $1.43 » 06:31
02/28/20
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06:31
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STRA

Strategic Education

$145.79 /

-5.06 (-3.35%)

Reports Q4 revenue…

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Hot Stocks
Takeda Pharmaceutical gets positive CHMP opinion for SC vedolizumab » 06:28
02/28/20
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TAK

Takeda Pharmaceutical

$17.62 /

-0.62 (-3.40%)

Takeda Pharmaceutical…

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Hot Stocks
Occidental Petroleum sees FY20 total company production 1,360-1,390 Mboed » 06:28
02/28/20
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06:28
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06:28
OXY

Occidental Petroleum

$31.80 /

-2.4 (-7.02%)

Sees FY20 Permian…

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NiSource upgraded to Outperform from Neutral at Credit Suisse » 06:27
02/28/20
02/28
06:27
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NI

NiSource

$27.33 /

-0.46 (-1.66%)

Credit Suisse analyst…

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Hot Stocks
Occidental Petroleum sees Q1 production 1,375-1,395 Mboed » 06:27
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OXY

Occidental Petroleum

$31.80 /

-2.4 (-7.02%)

Sees Q1 Permian resources…

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Hot Stocks
Occidental Petroleum 'on track' to meet or exceed $1.2B in annualized synergies » 06:26
02/28/20
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06:26
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OXY

Occidental Petroleum

$31.80 /

-2.4 (-7.02%)

Says on track to meet or…

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RBS upgraded to Neutral from Underperform at BofA » 06:25
02/28/20
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06:25
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RBS

RBS

$4.68 /

-0.235 (-4.78%)

BofA upgraded Royal Bank…

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Periodicals
Coronavirus seen prolonging U.S. freight slump, WSJ says » 06:25
02/28/20
02/28
06:25
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UPS

UPS

$90.19 /

-3.58 (-3.82%)

, FDX

FedEx

$138.99 /

-5.56 (-3.85%)

, CSX

CSX

$72.36 /

-2.7 (-3.60%)

The continuing slump in…

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Wells Fargo upgraded to Neutral from Underweight at Atlantic Equities » 06:24
02/28/20
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06:24
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WFC

Wells Fargo

$42.45 /

-1.7 (-3.85%)

Atlantic Equities analyst…

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Syndicate
Virtus Investment files automatic mixed securities shelf  06:22
02/28/20
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06:22
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06:22
VRTS

Virtus Investment

$118.49 /

-4.225 (-3.44%)

 
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Syndicate
Verastem raises $100M in a private placement » 06:21
02/28/20
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06:21
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VSTM

Verastem

$1.90 /

-0.1 (-5.00%)

Verastem announced that…

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Periodicals
JPMorgan restricting global travel amid coronavirus outbreak, Bloomberg reports » 06:20
02/28/20
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06:20
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06:20
JPM

JPMorgan

$121.38 /

-5.22 (-4.12%)

JPMorgan Chase has issued…

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Syndicate
Digital Ally 2.522M share Secondary priced at $1.15 » 06:19
02/28/20
02/28
06:19
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06:19
DGLY

Digital Ally

$1.29 /

-0.07 (-5.15%)

Aegis acted as sole book…

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Syndicate
Novan raises $5.5M in a public offering » 06:18
02/28/20
02/28
06:18
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NOVN

Novan

$0.34 /

-0.1099 (-24.42%)

Novan announced the…

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Periodicals
UBS cut CEO Sergio Ermotti's pay in 2019, Reuters reports » 06:18
02/28/20
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06:18
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UBS

UBS

$11.28 /

-0.5 (-4.24%)

UBS cut CEO Sergio…

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Initiation
Zillow initiated with a Sector Weight at KeyBanc » 06:17
02/28/20
02/28
06:17
02/28/20
06:17
Z

Zillow

$54.62 /

-2.49 (-4.36%)

, ZG

Zillow

$54.59 /

-2.91 (-5.06%)

KeyBanc analyst Edward…

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