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BX

Blackstone

$39.04

0.39 (1.01%)

, CB

Chubb

$138.06

-0.61 (-0.44%)

07:00
04/23/19
04/23
07:00
04/23/19
07:00

Citi adds Blackstone to Focus List, removes Chubb and Pioneer Natural

Citi added Blackstone (BX) to its US Focus List on the belief that the shares have more room to run. Blackstone could have "materially more upside," especially considering its "best-in-class" business model and widespread investor appeal, the firm's North America Research team says in a note. It removed Chubb (CB) and Pioneer Natural Resources (PXD) from the US Focus List due to analyst departures.

BX

Blackstone

$39.04

0.39 (1.01%)

CB

Chubb

$138.06

-0.61 (-0.44%)

PXD

Pioneer Natural

$175.83

0.82 (0.47%)

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    May

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    May

  • 11

    Jun

BX Blackstone
$39.04

0.39 (1.01%)

04/15/19
SBSH
04/15/19
UPGRADE
Target $35
SBSH
Neutral
Citi upgrades Franklin Resources, Artisan to Neutral from Sell
Citi analyst William Katz upgraded both Franklin Resources (BEN) and Artisan Partners (APAM) to Neutral from Sell. The analyst raised his price target to $35 from $28 for the former and to $25 from $20 for the latter. Ahead of the Q1 earnings season, however, the analyst favors the Alternatives. His top picks are Och-Ziff Capital (OZM), Brookfield (BAM) and Blackstone (BX). Katz, though, is "tactically less negative" on the Traditional asset managers.
11/30/18
MSCO
11/30/18
NO CHANGE
Target $42
MSCO
Overweight
Morgan Stanley more positive on Blackstone growth path after management meeting
After recently hosting an investor meeting with Jon Gray, Blackstone's President and COO, Morgan Stanley analyst Michael Cyprys said he is more positive on the company's growth trajectory, stating that its $130B fundraising pipeline should drive 50% growth in fee-related earnings over the next two years. The analyst, who also thinks a potential C-Corp conversion could unlock value in 2019, keeps an Overweight rating and $42 price target on Blackstone, adding that he thinks the shares could trade near $38 in the near-term if the market begins to assign higher odds to such a C-Corp change.
01/02/19
SUSQ
01/02/19
UPGRADE
Target $31
SUSQ
Positive
Crocs upgraded to Positive at Susquehanna
As reported previously, Susquehanna analyst Sam Poser upgraded Crocs (CROX) to Positive from Neutral. The analyst cited the recent repurchase and conversion of Blackstone's (BX) preferred stock position as it removes a substantial financial overhang from the company's capital structure and shifts more control of the business into the hands of existing and potential shareholders. In addition, the business continues to accelerate as processes and products improve and the brand gains traction, said Poser, who raised his price target to $31 from $25 on Crocs shares.
04/22/19
MSCO
04/22/19
NO CHANGE
Target $45
MSCO
Overweight
Blackstone price target raised to $45 from $40 at Morgan Stanley
Morgan Stanley analyst Michael Cyprys raised his valuation multiple on "sticky" management fee earnings at Blackstone and increased his price target on the stock to $45 from $40 following the company's announcement of plans to convert to a C-Corporation, stating that he believes the change from a partnership should unlock value by expanding the investor base that can participate. He believes multiple expansion should more than offset the expected 2%-5% hit to EPS over the next few years and 12%-13% longer-term hit from shifting to a corporate tax rate, said Cyprys, who keeps an Overweight rating on Blackstone shares.
CB Chubb
$138.06

-0.61 (-0.44%)

04/17/19
MSCO
04/17/19
DOWNGRADE
Target $146
MSCO
Equal Weight
Chubb downgraded to Equal Weight on lower excess reserves at Morgan Stanley
As previously reported, Morgan Stanley analyst Michael Phillips downgraded Chubb to Equal Weight from Overweight as he sees a thinner reserve cushion following his year end 2018 actuarial study. Long-tailed liability lines, such as Directors and Officers Liability, Errors and Omission Liability and traditional third party liability claims, have deteriorating trends and Chubb has a number one market share position in this business, said Phillips, whose excess reserve estimate for Chubb fell to $201M from $654M at year end 2017. He lowered his price target on Chubb shares to $146 from $152.
02/27/19
FBCO
02/27/19
DOWNGRADE
FBCO
Underperform
Chubb downgraded to Underperform on higher normalized CAT load at Credit Suisse
As previously reported, Credit Suisse analyst Michael Zaremski downgraded Chubb to Underperform from Neutral as he thinks the assumed catastrophe load embedded within consensus EPS forecasts is materially too low/optimistic, and as he has less confidence that the company will be able to organically grow policy counts in its peer-leading US high-net-worth personal home/auto businesses due to heightened competition from new entrants, one of whom is led by a spate of former Chubb executives. The analyst also lowered his price target on the shares to $131 from $141.
04/03/19
SDLR
04/03/19
DOWNGRADE
SDLR
Hold
Chubb downgraded to Hold from Buy at Sandler O'Neill
04/17/19
MSCO
04/17/19
DOWNGRADE
MSCO
Equal Weight
Chubb downgraded to Equal Weight from Overweight at Morgan Stanley
PXD Pioneer Natural
$175.83

0.82 (0.47%)

04/15/19
MACQ
04/15/19
UPGRADE
MACQ
Outperform
Pioneer Natural upgraded to Outperform from Neutral at Macquarie
03/19/19
MZHO
03/19/19
DOWNGRADE
Target $158
MZHO
Neutral
Pioneer Natural downgraded to Neutral from Buy at Mizuho
Mizuho analyst Paul Sankey downgraded Pioneer Natural Resources (PXD) to Neutral from Buy and lowered his price target for the shares to $158 from $206. Following Exxon Mobil's (XOM) and Chevron's (CVX) analyst days, Sankey sees less likelihood of a Pioneer Natural takeover. While the analyst's prior Buy rating was not based entirely on Pioneer Natural's takeout potential, he says an acquisition "does represent the most direct path for immediate realization of longer-term resource / inventory upside." He now believes the shares will lag his coverage on mid-cycle free cash flow yield.
04/12/19
GSCO
04/12/19
NO CHANGE
GSCO
Goldman downgrades California Resources, Chesapeake to Sell, upgrades Murphy
Within the Exploration and Production space, Goldman Sachs analyst Brian Singer recommends selling stocks where the valuation post recent rallies "appears at odds" with the company's competitive positioning. With that in mind, Singer downgraded both California Resources (CRC) and Chesapeake Energy (CHK) to Sell from Neutral. California Resources has a low decline rate and competitive supply cost but unfavorable debt cost that does not warrant the extent of its current valuation premium, says the analyst. For Chesapeake, Singer sees less favorable supply cost and corporate returns. The analyst also upgraded Murphy Oil (MUR) to Neutral from Sell. He believes the stock's current valuation appears more in line with its competitive positioning. Singer recommends buying "low cost oil suppliers" Encana (ECA), Parsley Energy (PE), Pioneer Natural (PXD) and EOG Resources (EOG) and Chevron (CVX).
04/15/19
MSCO
04/15/19
NO CHANGE
MSCO
Overweight
Chevron shares should be bought on Anadarko deal weakness, says Morgan Stanley
Morgan Stanley analyst Devin McDermott said he believes that Chevron's (CVX) agreement to acquire Anadarko (APC) is a "win-win for shareholders of both companies" given what he views as "clear strategic benefits and attractive accretion." Chevron was able to acquire the company "that offers the best strategic fit at what could prove to be the best relative valuation" ahead of what could be the start of a broader round of consolidation, contends McDermott, who recommends being a buyer of Chevron shares on the weakness seen after the deal was announced. In terms of who may be next, McDermott said he thinks Pioneer Natural (PXD), Concho Resources (CXO) and Parsley Energy (PE) could be potential targets for other oil majors.

TODAY'S FREE FLY STORIES

DKS

Dick's Sporting

$34.56

1.59 (4.82%)

10:08
08/22/19
08/22
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10:08
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Breaking Hot Stocks news story on Dick's Sporting »

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  • 22

    Aug

DKS

Dick's Sporting

$34.55

1.58 (4.79%)

10:07
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10:07
Hot Stocks
Breaking Hot Stocks news story on Dick's Sporting »

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  • 22

    Aug

IAC

IAC

$260.87

1.72 (0.66%)

10:07
08/22/19
08/22
10:07
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10:07
Initiation
IAC initiated  »

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DKS

Dick's Sporting

$34.18

1.21 (3.67%)

10:05
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10:05
Hot Stocks
Dick's Sporting sees delivering positive comps throughout 2H »

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  • 22

    Aug

GLW

Corning

$27.86

-0.03 (-0.11%)

10:05
08/22/19
08/22
10:05
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10:05
Options
Corning call volume above normal and directionally bullish »

Bullish option flow…

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10:05
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General news
FX Action: The dollar »

FX Action: The dollar was…

10:03
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10:03
General news
Leading Indicators data reported »

July Leading Indicators…

JWN

Nordstrom

$29.58

3.07 (11.58%)

, BBBY

Bed Bath & Beyond

$8.33

0.35 (4.39%)

09:55
08/22/19
08/22
09:55
08/22/19
09:55
Options
Early notable gainers among liquid option names on August 22nd »

Notable gainers among…

JWN

Nordstrom

$29.58

3.07 (11.58%)

BBBY

Bed Bath & Beyond

$8.33

0.35 (4.39%)

SIG

Signet Jewelers

$12.83

0.37 (2.97%)

GPS

Gap

$17.35

0.39 (2.30%)

ULTA

Ulta Beauty

$336.20

8.39 (2.56%)

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09:55
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General news
U.S. flash August Markit manufacturing PMI fell 0.5 ticks to 49.9 »

U.S. flash August Markit…

NEM

Newmont Goldcorp

$38.58

0.06 (0.16%)

, GOLD

Barrick Gold

$18.53

-0.11 (-0.59%)

09:52
08/22/19
08/22
09:52
08/22/19
09:52
Periodicals
China easing restrictions on gold imports, Reuters reports »

China has partially…

NEM

Newmont Goldcorp

$38.58

0.06 (0.16%)

GOLD

Barrick Gold

$18.53

-0.11 (-0.59%)

FCX

Freeport McMoRan

$9.27

0.13 (1.42%)

AEM

Agnico Eagle

$59.45

-0.09 (-0.15%)

KL

Kirkland Lake Gold

$45.97

0.34 (0.75%)

AU

AngloGold

$21.72

0.03 (0.14%)

KGC

Kinross Gold

$4.71

0.01 (0.21%)

GFI

Gold Fields

$5.84

0.03 (0.52%)

03/08/13
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  • 23

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CBLK

Carbon Black

$23.58

0.83 (3.65%)

09:50
08/22/19
08/22
09:50
08/22/19
09:50
Options
Early call buying in Carbon Black »

Early call buying in…

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NNA

Navios Acquisition

$6.15

-0.25 (-3.91%)

09:47
08/22/19
08/22
09:47
08/22/19
09:47
Hot Stocks
Navios Acquisition falls -6.2% »

Navios Acquisition is…

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LB

L Brands

$18.66

-1.39 (-6.93%)

09:47
08/22/19
08/22
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09:47
Hot Stocks
L Brands falls -7.3% »

L Brands is down -7.3%,…

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VEDL

Vedanta

$7.15

-0.585 (-7.56%)

09:47
08/22/19
08/22
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09:47
Hot Stocks
Vedanta falls -7.9% »

Vedanta is down -7.9%, or…

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FLY

Fly Leasing

$20.00

1.75 (9.59%)

09:47
08/22/19
08/22
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09:47
Hot Stocks
Fly Leasing rises 9.2% »

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  • 22

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PSTG

Pure Storage

$15.35

1.48 (10.67%)

09:47
08/22/19
08/22
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Pure Storage rises 11.0% »

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  • 28

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GME

GameStop

$3.97

0.42 (11.83%)

09:47
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GameStop rises 11.9% »

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GRPN

Groupon

$2.48

-0.04 (-1.59%)

09:45
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Groupon says CFO Randolfi to resign »

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  • 05

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09:45
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General news
Leading Indicators to be reported at 10:00 »

July Leading Indicators…

WYND

Wyndham Destinations

$42.90

(0.00%)

09:42
08/22/19
08/22
09:42
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09:42
Conference/Events
Wyndham Destinations management to meet with Morgan Stanley »

Luncheon Meeting with CEO…

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  • 28

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WYND

Wyndham Destinations

$42.90

(0.00%)

09:41
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09:41
Conference/Events
Wyndham Destinations management to meet with Suntrust »

Drinks with Management…

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  • 28

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BJ

BJ's Wholesale

$22.54

(0.00%)

, PSTG

Pure Storage

$13.87

(0.00%)

09:40
08/22/19
08/22
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09:40
Options
Unusually active option classes on open August 22nd »

Unusual total active…

BJ

BJ's Wholesale

$22.54

(0.00%)

PSTG

Pure Storage

$13.87

(0.00%)

GRPN

Groupon

$2.52

(0.00%)

DKS

Dick's Sporting

$32.97

(0.00%)

SPLK

Splunk

$128.51

(0.00%)

JWN

Nordstrom

$26.51

(0.00%)

TEAM

Atlassian

$143.95

(0.00%)

GME

GameStop

$3.55

(0.00%)

CRM

Salesforce

$147.40

(0.00%)

JNJ

Johnson & Johnson

$131.55

(0.00%)

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  • 22

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09:40
08/22/19
08/22
09:40
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General news
U.S. leading index preview: »

U.S. leading index…

UNVR

Univar

$19.03

0.075 (0.40%)

09:38
08/22/19
08/22
09:38
08/22/19
09:38
Conference/Events
Univar management to meet with SunTrust »

Group Dinner Meeting with…

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  • 28

    Aug

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TGT

Target

$103.11

17.54 (20.50%)

09:37
08/22/19
08/22
09:37
08/22/19
09:37
Recommendations
Target analyst commentary at BMO Capital »

Target price target…

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