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HRL

Hormel Foods

$39.54

-0.9 (-2.23%)

, DLR

Digital Realty

$117.67

-1.7 (-1.42%)

10:30
04/23/19
04/23
10:30
04/23/19
10:30

Fly Intel: Top five analyst downgrades

Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Hormel Foods (HRL) downgraded to Sell from Neutral at Goldman Sachs and to Underweight from Neutral at JPMorgan. 2. Digital Realty (DLR) downgraded to Hold from Buy at Jefferies with analyst Jonathan Petersen saying market absorption numbers from datacenterHawk suggest a leasing quarter even worse than Q4 of 2018 for the data center real estate investment trusts. 3. PSEG (PEG) downgraded to Neutral from Overweight at JPMorgan with analyst Christopher Turnure saying now that zero emission credits have been formally awarded, the he expects PJM capacity market reform driven-uncertainty to continue near-term or longer if the Federal Energy Regulatory Commission fails to approve a revised methodology soon. He sees limited near-term upside in PSEG shares. 4. Fortis (FTS) downgraded to Market Perform from Outperform at Raymond James. 5. Crocs (CROX) downgraded to Neutral from Overweight at Piper Jaffray with analyst Erinn Murphy saying the "runway for significant share appreciation becomes more difficult from here." This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

HRL

Hormel Foods

$39.54

-0.9 (-2.23%)

DLR

Digital Realty

$117.67

-1.7 (-1.42%)

PEG

PSEG

$58.57

0.13 (0.22%)

FTS

Fortis

$37.01

-0.18 (-0.48%)

CROX

Crocs

$26.40

-0.85 (-3.12%)

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HRL Hormel Foods
$39.54

-0.9 (-2.23%)

04/23/19
JPMS
04/23/19
DOWNGRADE
Target $36
JPMS
Underweight
JPMorgan downgrades Hormel Foods to Underweight on rising pork costs
JPMorgan analyst Thomas Palmer downgraded Hormel Foods to Underweight from Neutral and lowered his price target for the shares to $36 from $40. Goldman Sachs this morning also downgraded the shares. Rising pork costs and worsening Jennie-O ground turkey brand distribution points could weigh on Hormel's earnings, Palmer tells investors in a research note. Hormel is heavily reliant upon pork as an input for its products, and the company will likely be able to fully offset these cost increases through pricing, Palmer tells investors in a research note. African swine fever in China could result in an extended period of elevated pork pricing in the U.S., he contends.
04/23/19
GSCO
04/23/19
DOWNGRADE
GSCO
Sell
Goldman downgrades Hormel to Sell, upgrades Sanderson to Neutral
Goldman Sachs analyst Adam Samuelson downgraded Hormel Foods (HRL) to Sell from Neutral and cut his price target for the shares to $35 from $37. With his estimates now below consensus and "limited" earnings growth forecasted through fiscal 2020, the analyst sees risk to Hormel's "premium" valuation. The breadth and depth of African swine fever's impact across the Chinese pork industry, and as a result the global protein industry, will be significant in the near-to-medium-term, Samuelson tells investors in a research note. Buy-rated Tyson Foods (TSN) and BRF S.A. (BRFS) remain the analyst's preferred way to gain exposure to the Global Protein market. Samuelson this morning also upgraded Sanderson Farms (SAFM) to Neutral from Sell and raised his price target for the shares for $131 from $81. Higher competing protein prices and improving U.S. export prospects "make a more negative stance unsustainable," Samuelson contends. He raised his fiscal 2020 and 2021 margin forecasts for the company to "normalized levels." However, further upside is tempered, for now, by increases in U.S. processing capacity coming on stream over the next 18 months, the analyst contends.
04/23/19
GSCO
04/23/19
DOWNGRADE
Target $35
GSCO
Sell
Hormel Foods downgraded to Sell from Neutral at Goldman Sachs
Goldman Sachs analyst Adam Samuelson downgraded Hormel Foods to Sell from Neutral and lowered his price target for the shares to $35 from $37. African swine fever is upending the protein markets, Samuelson tells investors in a research note. JPMorgan this morning also downgraded Hormel Foods to a sell-equivalent rating.
04/23/19
JPMS
04/23/19
DOWNGRADE
Target $36
JPMS
Underweight
Hormel Foods downgraded to Underweight from Neutral at JPMorgan
JPMorgan analyst Thomas Palmer downgraded Hormel Foods to Underweight from Neutral and lowered his price target for the shares to $36 from $40.
DLR Digital Realty
$117.67

-1.7 (-1.42%)

04/23/19
JEFF
04/23/19
DOWNGRADE
Target $125
JEFF
Hold
Jefferies downgrades Digital Realty to Hold ahead of Q1 results
Jefferies analyst Jonathan Petersen downgraded Digital Realty Trust to Hold from Buy and lowered his price target for the shares to $125 from $144. Market absorption numbers from datacenterHawk suggest a leasing quarter even worse than Q4 of 2018 for the data center real estate investment trusts, Petersen tells investors in a research note. With Digital Realty's volumes increasingly driven by large hyperscale deals, "another quarter of light volumes will likely weigh on shares," contends the analyst. As such, the analyst downgrades the shares ahead of the company's earnings release on Thursday pending signs of a resurgence of hyperscale demand. Despite the downgrade, Digital Realty remains Petersen's preferred wholesale data center stock.
12/10/18
JEFF
12/10/18
DOWNGRADE
Target $102
JEFF
Hold
CoreSite Realty downgraded to Hold from Buy at Jefferies
Jefferies analyst Jonathan Petersen downgraded CoreSite Realty (COR) to Hold and lowered his price target for the shares to $102 from $107. A lack of sellable capacity reduces the company's growth outlook for 2019 and 2020, Petersen tells investors in a research note. The analyst sees better near-term growth in Digital Realty (DLR) and Equinix (EQIX), two stocks he upgraded this morning to Buy.
03/25/19
RAJA
03/25/19
DOWNGRADE
RAJA
Market Perform
Digital Realty downgraded to Market Perform from Outperform at Raymond James
04/23/19
JEFF
04/23/19
DOWNGRADE
Target $125
JEFF
Hold
Digital Realty downgraded to Hold from Buy at Jefferies
Jefferies analyst Jonathan Petersen downgraded Digital Realty Trust to Hold from Buy and lowered his price target for the shares to $125 from $144.
PEG PSEG
$58.57

0.13 (0.22%)

04/18/19
DBAB
04/18/19
NO CHANGE
DBAB
Deutsche Bank ups PSEG, Exelon targets after New Jersey approves nuclear ZECs
After New Jersey's Board of Public Utilities voted 4-1 to grant Zero Emissions Credits, or ZECs, worth approximately $10/MWh to all three of New Jersey's nuclear plants, Deutsche Bank analyst Jon Arnold raised his price target on shares of PSEG (PEG) to $63 from $62 and his target on Exelon (EXC) to $55 from $54. The credits are expected to add about $200M per year for the next three years to majority owner PSEG's revenue and Salem plant co-owner Exelon is entitled to its $100M per year share, explained the analyst. ZECS are now actually granted in New Jersey and have previously been granted in Illinois and were recently "affirmed as legal all the way up to the SCOTUS" after the top court opted not to take up related challenges, Arnold noted.
04/23/19
JPMS
04/23/19
DOWNGRADE
Target $62
JPMS
Neutral
PSEG downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Christopher Turnure downgraded PSEG to Neutral from Overweight and lowered his price target for the shares to $62 from $64. Now that zero emission credits have been formally awarded, the analyst expects PJM capacity market reform driven-uncertainty to continue near-term or longer if the Federal Energy Regulatory Commission fails to approve a revised methodology soon. He sees limited near-term upside in PSEG shares.
02/28/19
02/28/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Booking Holdings (BKNG) downgraded to Neutral from Overweight at Atlantic Equities and Piper Jaffray, as well as to Perform from Outperform at Oppenheimer. 2. Box (BOX) downgraded to Sector Weight from Overweight at KeyBanc and to Neutral from Buy at Rosenblatt. 3. HP Inc. (HPQ) double downgraded to Underperform from Buy at BofA/Merrill with analyst Wamsi Mohan citing the company's Q1 report last night. 4. PSEG (PEG) downgraded to Hold from Buy at Deutsche Bank. 5. Dollar General (DG) and Big Lots (BIG) were downgraded to Hold from Buy at Deutsche Bank. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/13/19
MZHO
03/13/19
NO CHANGE
Target $61.5
MZHO
Buy
PSEG price target raised to $61.50 from $54 at Mizuho
Mizuho analyst Paul Fremont raised his price target for PSEG to $61.50 from $54 and updating his estimates through 2021 and keeps a Buy rating on the shares.
FTS Fortis
$37.01

-0.18 (-0.48%)

10/16/18
UBSW
10/16/18
NO CHANGE
UBSW
Buy
Fortis analyst day increases growth confidence, says UBS
UBS analyst Ross Fowler attended the Fortis analyst day and came away with increased confidence in the company's growth potential. The analyst believes the company's guidance is conservative as he sees several potential levers that could drive higher growth, including additional large-scale cap-ex opportunities, lowering costs, increasing equity ratios at the Canadian regulated entities, and asset sales. Fowler reiterated his Buy rating and raised his price target to C$49 from C$47 on Fortis shares.
04/23/19
RAJA
04/23/19
DOWNGRADE
RAJA
Market Perform
Fortis downgraded to Market Perform from Outperform at Raymond James
01/29/19
01/29/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Nvidia (NVDA) downgraded to Equal Weight from Overweight at Morgan Stanley and to Underperform from Buy at Needham. 2. Square (SQ) downgraded to Underperform from Market Perform at Raymond James with analyst John Davis saying he thinks organic growth peaked in Q3 of 2018 and expects growth in subs and services to materially decelerate in Q2 as acquisitions of Weebly and Zesty move into the base with their slower growth. 3. AK Steel (AKS) downgraded to Neutral from Outperform at Macquarie with analyst David Lipschitz saying while its Q4 earnings topped consensus, the company's margin improvements from contract renewals were "less than expected," adding that earnings could face "further downside risks as the current steel pricing environment stays weak and raw material costs continue to rise." 4. Cree (CREE) downgraded to Market Perform from Outperform at JMP Securities with analyst Joseph Osha saying he sees no signs at the moment that competing suppliers, including Chinese firms, are catching up with Cree in terms of its dominance in silicon carbide materials and devices. 5. Fortis (FTS) downgraded to Hold from Buy at TD Securities with analyst Linda Ezergailis citing valuation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/29/19
TDSI
01/29/19
DOWNGRADE
TDSI
Hold
Fortis downgraded to Hold from Buy at TD Securities
TD Securities analyst Linda Ezergailis resumed coverage on Fortis with a Hold rating from Buy rating citing valuation.
CROX Crocs
$26.40

-0.85 (-3.12%)

01/02/19
01/02/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Bausch Health (BHC) upgraded to Overweight from Neutral at Piper Jaffray with analyst David Amsellem saying while he's been "unrelentingly negative" on the company for years, it is time to "turn the page following a closer look at the business." 2. Crocs (CROX) and Shoe Carnival (SCVL) were upgraded to Positive from Neutral at Susquehanna. 3. Stryker (SYK) upgraded to Outperform from In Line at Evercore ISI. 4. CBS (CBS) upgraded to Overweight from Equal Weight at Stephens with analyst Kyle Evans saying he believes investor sentiment is poised to improve on the name in 2019 and that the company can continue to post solid results driven by underlying unit growth and stronger pricing. 5. Sirius XM (SIRI) upgraded to Overweight from Neutral at JPMorgan with analyst Sebastiano Petti saying Sirius XM shares are attractively following the 25% pullback from the 2018 highs. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/02/19
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.
02/28/19
MONN
02/28/19
UPGRADE
MONN
Buy
Crocs upgraded to Buy from Neutral at Monness Crespi
04/23/19
PIPR
04/23/19
DOWNGRADE
Target $31
PIPR
Neutral
Crocs downgraded to Neutral from Overweight at Piper Jaffray
Piper Jaffray analyst Erinn Murphy downgraded Crocs to Neutral from Overweight with an unchanged price target of $31. The "runway for significant share appreciation becomes more difficult from here," Murphy tells investors in a research note. She believes expectations for mid-single-digit revenue growth in fiscal 2019 and 2020 are reflected in consensus estimates and the stock at this point. Further, the analyst points out that in Piper's spring teen survey, Crocs was the number 19 preferred footwear brand, down from number 17 last year and number 13 in the fall. Murphy sees a balanced risk/reward for Crocs at current share levels.

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RDS.A

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$56.25

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$56.25

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$56.37

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Griffon

$18.28

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SPDR S&P 500 ETF Trust

$292.26

3.47 (1.20%)

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$292.26

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APO

Apollo Global

$34.20

2.17 (6.77%)

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Tegna

$15.82

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Tegna

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$12.48

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$35.52

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$NSD

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$0.00

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$NYE

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$0.00

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11:15
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