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GLRE

Greenlight Capital Re

$12.30

0.3 (2.50%)

, BHF

Brighthouse Financial

$42.82

0.59 (1.40%)

09:12
05/07/19
05/07
09:12
05/07/19
09:12

Greenlight's Einhorn says Brighthouse shares remain significantly undervalued

David Einhorn said on Greenlight Capital Re's (GLRE) earnings call that he believes Brighthouse Financial (BHF) shares remain significantly undervalued. Says demand for Tesla's (TSLA) higher end Model S and Model X has dramatically softened.

GLRE

Greenlight Capital Re

$12.30

0.3 (2.50%)

BHF

Brighthouse Financial

$42.82

0.59 (1.40%)

TSLA

Tesla

$255.38

0.33 (0.13%)

  • 07

    May

  • 07

    May

GLRE Greenlight Capital Re
$12.30

0.3 (2.50%)

BHF Brighthouse Financial
$42.82

0.59 (1.40%)

03/07/19
03/07/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. United Natural Foods (UNFI) downgraded to Sell from Hold at Pivotal Research with analyst Ajay Jain saying the potential for more disappointment remains following "continued operational setbacks" related to the Supervalu acquisition. 2. AB InBev (BUD) downgraded to Sector Perform from Top Pick at RBC Capital with analyst James Jones saying without further "transformational" acquisitions," AB InBev is unlikely to see incremental margin growth. 3. Toll Brothers (TOL) and Meritage Homes (MTH) were downgraded to Underweight from Neutral at JPMorgan. 4. Brighthouse Financial (BHF) downgraded to Hold from Buy at Sandler O'Neill with analyst John Barnidge saying the stock has been the best performing life insurer in its peer group year-to-date. Stating that his downgrade is not a valuation call. 5. Pengrowth (PGH) downgraded to Underperform from Sector Perform at National 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.
04/04/19
SBSH
04/04/19
DOWNGRADE
Target $35
SBSH
Sell
Brighthouse Financial downgraded to Sell from Neutral at Citi
Citi analyst Suneet Kamat downgraded Brighthouse Financial to Sell from Neutral and lowered his price target for the shares to $35 from $39.
04/04/19
SBSH
04/04/19
DOWNGRADE
Target $35
SBSH
Sell
Citi downgrades Brighthouse to Sell, continues to prefer Lincoln National
Citi analyst Suneet Kamat downgraded Brighthouse Financial to Sell from Neutral and lowered his price target for the shares to $35 from $39. The recent decline in long-term interest rates and the forward curve could negatively impact Brighthouse's ability to generate free cash flow from its variable annuity business, Kamat tells investors in a research note. The analyst re-based his base case for the stock and continues to prefer shares of Lincoln National (LNC) over Brighthouse Financial.
04/04/19
04/04/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Micron (MU) downgraded to Underweight from Equal Weight at Morgan Stanley with analyst Joseph Moore saying the company's fundamentals have not changed but the stock has rallied amid recent optimism as cloud demand has started to come back and a competitor has experienced a "minor product qualification challenge." 2. Brighthouse Financial (BHF) downgraded to Sell from Neutral at Citi with analyst Suneet Kamat saying the recent decline in long-term interest rates and the forward curve could negatively impact Brighthouse's ability to generate free cash flow from its variable annuity business. 3. Altaba (AABA) downgraded to Neutral from Overweight at JPMorgan with analyst Douglas Anmuth saying Altaba yesterday announced its board approved plans for a voluntary liquidation and dissolution, with total distributions paid expected between $76.62 and $79.22 per share, which represents ~5-9% upside from current levels. 4. Comerica (CMA) downgraded to Neutral from Overweight at JPMorgan and to Neutral from Buy at Goldman Sachs. 5. Roku (ROKU) downgraded to Neutral from Buy at Guggenheim with analyst Michael Morris saying Apple's (AAPL) video product unveiled on March 25 represents an additional risk to Roku's active user base. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
TSLA Tesla
$255.38

0.33 (0.13%)

05/06/19
BARD
05/06/19
NO CHANGE
Target $400
BARD
Outperform
Tesla capital raise should refute lingering bear argument, says Baird
Baird analyst Ben Kallo said Tesla's equity and convertible notes offering was not necessarily needed, but "a prudent move" to boost the balance sheet and remove an overhang after liquidity was discussed on the Q1 earnings call. He also thinks the fundraising should refute lingering bear arguments that Tesla could not access capital markets due to a potential Wells Notice or a perceived reluctance by banks. Kallo, who thinks consensus expectations may be overly negative on the second half of 2019, has an Outperform rating and $400 price target on Tesla shares.
05/06/19
RBCM
05/06/19
NO CHANGE
Target $190
RBCM
Underperform
Tesla price target lowered to $190 from $200 at RBC Capital
RBC Capital analyst Joseph Spak lowered his price target on Tesla to $190, updating his model to include $1.6B in convertible debt issued for 2024 and noting that the capital raise could have been conducted from a "greater position of strength." Spak also kept his Underperform rating, forecasting free cash flow burn through 2021 while noting Tesla's sequential volume declines for ModelS/X/3 reported in Q1. The analyst further notes that Tesla's "narrative pivot" toward robo-taxis is premature and will also consume capital.
05/06/19
BOFA
05/06/19
INITIATION
Target $225
BOFA
Underperform
Tesla resumed with an Underperform at BofA/Merrill
BofA/Merrill analyst John Murphy resumed coverage on Tesla with an Underperform and $225 price target.
05/07/19
LEHM
05/07/19
NO CHANGE
Target $192
LEHM
Underweight
Tesla share momentum may continue as bankruptcy concerns recede, says Barclays
Between last week's capital raise and cash infusions of potentially over 1B euros from regulatory credit sales, Tesla's cash balance is "comfortably replenished for the next year or so," Barclays analyst Brian Johnson tells investors in a research note. As such, the analyst says he would not be surprised to see continued positive momentum in the shares as bankruptcy concerns recede. However, he believes the appeal of Tesla shares to growth investors may fade and reiterates an Underweight rating on Tesla with a $192 price target. The stock closed yesterday up 31c to $255.34. Some of the "rational bulls" of Tesla may need to reassess the idea that the company will become a profitable auto market, as press accounts of the conference call on May 2 around the capital raise indicate that Elon Musk "sold" the deal based on the promise of autonomous robo-taxis by 2020, says Johnson. As a result, he believes Tesla appears to be pivoting from improving auto margins and profitability to going all-in on autonomy.

TODAY'S FREE FLY STORIES

MDT

Medtronic

$89.02

1.22 (1.39%)

, HRL

Hormel Foods

$39.48

-0.33 (-0.83%)

20:25
05/22/19
05/22
20:25
05/22/19
20:25
Earnings
Notable companies reporting before tomorrow's open »

Notable companies…

MDT

Medtronic

$89.02

1.22 (1.39%)

HRL

Hormel Foods

$39.48

-0.33 (-0.83%)

BBY

Best Buy

$69.26

-0.68 (-0.97%)

BJ

BJ's Wholesale

$26.50

0.94 (3.68%)

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HFC

HollyFrontier

$42.69

-1.45 (-3.29%)

20:19
05/22/19
05/22
20:19
05/22/19
20:19
Periodicals
Breaking Periodicals news story on HollyFrontier »

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PS

Pluralsight

$33.43

-0.58 (-1.71%)

, MSFT

Microsoft

$127.67

0.77 (0.61%)

20:04
05/22/19
05/22
20:04
05/22/19
20:04
Recommendations
Pluralsight, Microsoft analyst commentary at First Analysis »

Meetings with Pluralsight…

PS

Pluralsight

$33.43

-0.58 (-1.71%)

MSFT

Microsoft

$127.67

0.77 (0.61%)

03/08/13
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    Aug

GTE

Gran Tierra

$2.09

-0.03 (-1.42%)

19:28
05/22/19
05/22
19:28
05/22/19
19:28
Hot Stocks
Gran Tierra confirms award of 3 Ecuador blocks with 140K acre total area »

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PGR

Progressive

$80.47

0.44 (0.55%)

19:10
05/22/19
05/22
19:10
05/22/19
19:10
Hot Stocks
Progressive's Sieger sells 7,500 common shares »

In a regulatory filing,…

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CRM

Salesforce

$157.60

1.83 (1.17%)

19:05
05/22/19
05/22
19:05
05/22/19
19:05
Hot Stocks
Salesforce Ventures launches $125M Europe Trailblazer Fund »

Salesforce announced that…

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MRCY

Mercury Systems

$70.96

0.08 (0.11%)

19:05
05/22/19
05/22
19:05
05/22/19
19:05
Syndicate
Mercury Systems 6M share Secondary priced at $69.00 »

The deal size was…

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  • 05

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RNG

RingCentral

$122.58

0.14 (0.11%)

18:57
05/22/19
05/22
18:57
05/22/19
18:57
Hot Stocks
RingCentral CEO: We have an all in one solution for business communications »

In an interview on…

03/08/13
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  • 28

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    Jun

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    Nov

LB

L Brands

$24.29

1.605 (7.08%)

, VIPS

Vipshop

$7.75

0.095 (1.24%)

18:53
05/22/19
05/22
18:53
05/22/19
18:53
Hot Stocks
Fly Intel: After Hours Movers »

UP AFTER EARNINGS: L…

LB

L Brands

$24.29

1.605 (7.08%)

VIPS

Vipshop

$7.75

0.095 (1.24%)

CPRT

Copart

$64.99

-0.91 (-1.38%)

CTRP

Ctrip

$37.78

-0.09 (-0.24%)

SNPS

Synopsys

$115.10

-0.63 (-0.54%)

AVP

Avon Products

$4.07

0.875 (27.39%)

GILD

Gilead

$67.25

0.73 (1.10%)

IOVA

Iovance Biotherapeutics

$17.71

1.5 (9.25%)

AMGN

Amgen

$173.23

3.61 (2.13%)

NTAP

NetApp

$62.58

-7.43 (-10.61%)

SCVL

Shoe Carnival

$29.65

-2.6 (-8.06%)

HTHT

Huazhu Group

$34.41

-0.47 (-1.35%)

SBLK

Star Bulk Carriers

$8.13

-0.13 (-1.57%)

ONVO

Organovo

$0.78

-0.158 (-16.84%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
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03/06/13
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    May

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    May

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    May

  • 31

    May

  • 03

    Jun

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    Jun

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    Jun

  • 10

    Jun

  • 13

    Jun

  • 09

    Jul

  • 16

    Jul

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    Jul

  • 26

    Sep

  • 27

    Sep

HMC

Honda

$25.54

-0.17 (-0.66%)

, TKTDY

Takata

$0.00

(0.00%)

18:53
05/22/19
05/22
18:53
05/22/19
18:53
Hot Stocks
Honda to recall about 19,000 vehicles in the U.S. over faulty inflator kits »

Honda (HMC) will…

HMC

Honda

$25.54

-0.17 (-0.66%)

TKTDY

Takata

$0.00

(0.00%)

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 05

    Jun

DSNKY

Daiichi Sankyo

$0.00

(0.00%)

18:39
05/22/19
05/22
18:39
05/22/19
18:39
Periodicals
Breaking Periodicals news story on Daiichi Sankyo »

Daiichi Sankyo in talks…

03/08/13
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03/08/13
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03/06/13
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  • 31

    May

SPOT

Spotify

$127.10

-5.06 (-3.83%)

18:27
05/22/19
05/22
18:27
05/22/19
18:27
Periodicals
Spotify resets some users' passwords over 'suspicious activity,' TechCrunch says »

Spotify has informed an…

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IDXX

Idexx Laboratories

$250.45

1.24 (0.50%)

18:20
05/22/19
05/22
18:20
05/22/19
18:20
Hot Stocks
Idexx Laboratories CEO: We're at the beginning of our runway for growth »

In an interview on…

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  • 05

    Jun

OMC

Omnicom

$79.79

-0.3 (-0.37%)

18:15
05/22/19
05/22
18:15
05/22/19
18:15
Hot Stocks
Omnicom CEO sells 60.5K shares of common stock »

In a regulatory filing,…

03/08/13
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BSX

Boston Scientific

$37.74

0.04 (0.11%)

18:12
05/22/19
05/22
18:12
05/22/19
18:12
Hot Stocks
Boston Scientific initiates trial of WATCHMAN FLX appendage closure platform »

Boston Scientific has…

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CTRP

Ctrip

$37.63

-0.24 (-0.63%)

18:03
05/22/19
05/22
18:03
05/22/19
18:03
Hot Stocks
Ctrip reports Q1 gross margin 79% vs. 82% a year ago »

Remained consistent with…

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  • 22

    May

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    May

CTRP

Ctrip

$37.63

-0.24 (-0.63%)

18:02
05/22/19
05/22
18:02
05/22/19
18:02
Earnings
Breaking Earnings news story on Ctrip »

Ctrip sees Q2 net revenue…

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  • 22

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    May

CTRP

Ctrip

$37.63

-0.24 (-0.63%)

18:01
05/22/19
05/22
18:01
05/22/19
18:01
Earnings
Ctrip reports Q1 adjusted EPS 44c, consensus 24c »

Reports Q1 revenue $1.2B,…

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  • 22

    May

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    May

CE

Celanese

$100.10

-0.18 (-0.18%)

18:01
05/22/19
05/22
18:01
05/22/19
18:01
Hot Stocks
Celanese announces acetyls product price increases »

Celanese Corporation will…

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XRAY

Dentsply Sirona

$54.64

-0.25 (-0.46%)

17:57
05/22/19
05/22
17:57
05/22/19
17:57
Hot Stocks
Dentsply Sirona CFO Alexos to leave company in connection with relocation »

In a regulatory filing,…

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  • 22

    May

  • 05

    Jun

SIM

Grupo Simec

$9.23

(0.00%)

17:55
05/22/19
05/22
17:55
05/22/19
17:55
Hot Stocks
Grupo Simec receives noncompliance notification from NYSE »

Grupo Simec announced…

03/08/13
Wedge Partners
03/08/13
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03/06/13
Citigroup
03/06/13
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CPRT

Copart

$64.78

-1.12 (-1.70%)

17:51
05/22/19
05/22
17:51
05/22/19
17:51
Earnings
Copart reports Q3 adjusted EPS 66c, consensus 62c »

Reports Q3 revenue…

03/08/13
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03/06/13
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  • 23

    May

  • 03

    Jun

NVS

Novartis

$83.94

1.555 (1.89%)

17:51
05/22/19
05/22
17:51
05/22/19
17:51
Periodicals
Novartis CEO sees Zolgensma price 'far lower' than $4M-$5M range, Reuters says »

Novartis CEO Vas…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 23

    May

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    May

PCG

PG&E

$19.00

0.55 (2.98%)

17:45
05/22/19
05/22
17:45
05/22/19
17:45
Periodicals
PG&E to remain in control of bankruptcy until September 29, WSJ reports »

PG&E will remain in…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 21

    Jun

OBLN

Obalon Therapeutics

$1.24

0.842 (211.56%)

17:41
05/22/19
05/22
17:41
05/22/19
17:41
Hot Stocks
Obalon Therapeutics discloses resignation of CEO »

In a regulatory 8-K…

03/08/13
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