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HAL

Halliburton

$23.50

-1.02 (-4.16%)

, TSLA

Tesla

$195.50

4.11 (2.15%)

08:55
05/24/19
05/24
08:55
05/24/19
08:55

Notable open interest changes for May 24th

Thursday's total option volume of 22.9 million contracts resulted in net open interest growth of 3.73 million calls and 3.56 million puts. Halliburton (HAL), Tesla (TSLA), National Oilwell (NOV) and American Airlines (AAL) saw the greatest growth. Top five new positions opened include 62k National Oilwell (NOV) Jul-19 21 puts, 59k Halliburton (HAL) 7/5 weekly 23 puts, 59k National Oilwell (NOV) Jul-19 23 calls, 57k Halliburton (HAL) 7/5 weekly 24 calls and 54k General Electric (GE) Jun-19 9 puts.

HAL

Halliburton

$23.50

-1.02 (-4.16%)

TSLA

Tesla

$195.50

4.11 (2.15%)

NOV

National Oilwell

$22.12

-1.02 (-4.41%)

AAL

American Airlines

$29.49

-0.43 (-1.44%)

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    Jul

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    Nov

HAL Halliburton
$23.50

-1.02 (-4.16%)

04/23/19
RHCO
04/23/19
NO CHANGE
Target $39
RHCO
Buy
Halliburton price target lowered to $39 from $44 at SunTrust
SunTrust analyst Ken Sill lowered his price target on Halliburton to $39 after its Q1 results and Q2 guidance to reflect his lowered implied enterprise value to expected FY20 EBITDA multiple of 9.0-times from 9.6-times, which is in line with its 2007-2014 average. The analyst is also keeping his Buy rating on Halliburton stock, saying the tone of the earnings call was "much improved" and reflects stabilizing U.S. pricing on better supply/demand fundamentals along with expectations of an increase in international activity.
02/15/19
SBSH
02/15/19
NO CHANGE
SBSH
Citi views Keane acquisition of FTS as most attractive in Oil Service
Consolidation amongst the pressure pumpers is likely to pick up in the current period of profitability bifurcation, Citi analyst Scott Gruber tells investors in a research note. The analyst, however, believes Schlumberger (SLB) and Halliburton (HAL) seem unlikely to acquire and that consolidation looks more likely amongst the mid-tier pumpers. Of those, Keane Group (FRAC) is most likely to acquire, says the analyst. FTS International (FTSI) screens as the most likely to be acquired, although pumping segments at Patterson-UTI (PTEN) and Superior Energy (SPN) could also be targeted, contends Gruber. He believes Keane and FTS looks like the most attractive combination. Both shares could rise in the event of a deal announcement, says the analyst.
03/10/19
GSCO
03/10/19
INITIATION
Target $42
GSCO
Buy
Halliburton initiated with a Buy at Goldman Sachs
Goldman Sachs started Halliburton with a Buy rating and $42 price target.
03/11/19
GSCO
03/11/19
INITIATION
GSCO
Goldman Sachs starts 19 in Oilfield Services, top pick is Baker Hughes
Goldman Sachs analyst Angie Sedita last night initiated coverage of 19 names in the Oilfield Services & Equipment space. The analyst sees three themes: A slow recovery in the offshore markers benefiting both offshore drilling and subsea, U.S. frac activity outpacing land drilling over the near-term, and a a surge of LNG projects moving forward benefiting companies exposed to those trends. Valuations are at the low end of historical ranges, says the analyst, who expects annual earnings growth of 15%-30% through 2021 for the group. Sedita's top pick is Baker Hughes (BHGE), a stock she started with a Conviction Buy rating. Her top Sell is Diamond Offshore (DO). Along with Baker Hughes, the analyst put Buy ratings on Halliburton (HAL), Schlumberger (SLB), Transocean (RIG), TechnipFMC (FTI), Nine Energy Services (NINE) and ProPetro Holding (PUMP). Along with Diamond Offshore, Sedita also put a Sell rating on RPC, Inc. (RES).
TSLA Tesla
$195.50

4.11 (2.15%)

05/22/19
SBSH
05/22/19
NO CHANGE
Target $191
SBSH
Sell
Citi cuts Tesla target to $191 from $238, says risk/reward 'negatively skewed'
Citi analyst Itay Michaeli lowered his price target for Tesla to $191 from $238 and maintains a Sell rating on the shares. The stock closed yesterday down 28c to $205.08. Tesla's risk/reward "still appears negatively skewed" despite the recent capital raise and stock pullback, mainly on lingering demand and free cash flow concerns, Michaeli tells investors in a research note. The analyst reduced his reduced estimates for Tesla through 2021 to reflect the recent capital raise and the company's Q1 results.
05/21/19
BARD
05/21/19
NO CHANGE
Target $340
BARD
Outperform
Tesla price target lowered to $340 from $400 at Baird
Baird analyst Ben Kallo lowered his price target for Tesla to $340 from $400, saying demand concerns, credibility questions, and messaging/communication have weighed on shares in recent weeks, and thinks it could take several weeks or months for the narrative to shift. Kallo maintained an Outperform rating, saying he continues to believe Tesla is positioned to outperform over the long run, as the company increases profitability, generates free cash flow, and ramps production of innovative products.
05/21/19
MSCO
05/21/19
NO CHANGE
Target $230
MSCO
Equal Weight
Morgan Stanley lowers 'bear case' valuation for Tesla to $10 from $97
Morgan Stanley analyst Adam Jonas called Tesla "arguably the most strategically important" auto maker, but also one that has "among the widest ranges of outcomes and uncertainty." He estimates that Tesla will end Q2 with total debt of $13.3B and noted that its 2025 bonds have set new lows following the company's recent capital raise. Given the company's increased debt, exposure to China and potential for negative news flow that can hurt its fundamentals, Jonas lowered his "bear case" valuation for Tesla to $10 from $97, driven primarily by his concerns around Chinese demand for Tesla products. However, he keeps a $230 price target for Tesla shares under his "base case" scenario and maintains an Equal Weight rating on the stock.
05/20/19
WEDB
05/20/19
NO CHANGE
Target $230
WEDB
Neutral
Tesla price target lowered to $230 at Wedbush on Model 3 demand concerns
Wedbush analyst Daniel Ives lowered his price target on Tesla shares to $230 from $275 citing his reduced confidence in the company's ability to hit its 2019 unit guidance given what he calls "major concerns" around the underlying demand for the Model 3 in the U.S. Mixed signals about Model 3 demand "are becoming incrementally more challenging," said the analyst, who believes that the company should be focused on shoring up demand for the Model 3 rather than expanding into insurance, robotaxis, and "other sci-fi projects/endeavors." Ives, who calls the electric carmaker's second half of the year profitability targets "a Kilimanjaro-like uphill climb," keeps a Neutral rating on Tesla shares, which are down $8.11, or about 4%, to $202.92 in pre-market trading.
NOV National Oilwell
$22.12

-1.02 (-4.41%)

04/16/19
RHCO
04/16/19
NO CHANGE
Target $24
RHCO
Hold
National Oilwell price target lowered to $24 from $29 at SunTrust
SunTrust analyst Ken Sill lowered his price target on National Oilwell to $24 and kept his Hold rating after its below-consensus Q1 pre-announcement. The analyst states however that while he expects the management's outlook on its April 26th earnings call to be "cautious", he also believes that "most of the damage from the earnings miss has already been incurred." Sill adds that National Oilwell is typically a "late cycle play", stating that the company's "activity in North America is bottoming, while international activity, as measure by the rig count, has been better than expected".
01/17/19
STFL
01/17/19
NO CHANGE
STFL
Stifel lowers Oilfield Services and Equipment estimates
Stifel analyst Stephen Gengaro said he expects overall E&P capital spending to be about flat in the U.S. market and he cut his forecast for U.S. drilling and completion activity based on the current WTI crude oil strip. He lowered his U.S rig count projections by 50 to 1,050 rigs in 2019 and by 100 to 1,150 rigs in 2020 and he cut his 2019 EBITDA forecast by roughly 10% on average. Based on the changes in estimates, Gengaro lowered his earnings expectations for the majority of the names he covers and cut his price targets on several. Among the largest target changes, he lowered his price target on Core Laboratories (CLB) to $86 from $110, cut his target on Emerge Energy (EMES) to $3 from $5, reduced his target on Halliburton (HAL) to $37 from $45 and trimmed his target on Superior Energy (SPN) to $5 from $9. Others in the space that Gengaro covers include Baker Hughes (BHGE), DMC Global (BOOM), Civeo (CVEO), Keane Group (FRAC), FTS International (FTSI), Liberty Oilfield Services (LBRT), National Oilwell (NOV), Oil States (OIS), Pioneer Energy (PES), ProPetro Holding (PUMP), RPC, Inc. (RES), Schlumberger (SLB), U.S. Silica (SLCA), Smart Sand (SND), Solaris Oilfield (SOI), Tenaris (TS), Tetra Technologies (TTI) and Weatherford (WFT).
02/11/19
RHCO
02/11/19
NO CHANGE
Target $29
RHCO
Hold
National Oilwell price target lowered to $29 from $40 at SunTrust
SunTrust analyst Ken Sill lowered his price target on National Oilwell to $29 and kept his Hold rating, saying the recovery of the company's business has been slow. The analyst notes that while the company's Rig Technology segment has turned the corner and the management's focus has fallen on its Completion/Production and Wellbore segments, revenue growth is likely to be contained by the recent oil price dip which pushed the bottom for offshore completions to Q1 or Q2 of 2019. Sill still sees some "modest growth" for National Oilwell, but not a return to that of a prior peak period.
03/10/19
GSCO
03/10/19
INITIATION
Target $33
GSCO
Neutral
National Oilwell initiated with a Neutral at Goldman Sachs
Goldman Sachs started National Oilwell Varco with a Neutral rating and $33 price target.
AAL American Airlines
$29.49

-0.43 (-1.44%)

05/20/19
05/20/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. American Airlines (AAL) downgraded to Underweight from Equal Weight at Morgan Stanley while Delta Air Lines (DAL) was downgraded to Equal Weight from Overweight. 2. Deutsche Bank (DB) downgraded to Sell from Neutral at UBS with the firm saying the bank is facing limited strategic options and its operating conditions are unlikely to improve in the near term amid intense competition. 3. Eaton Vance (EV) double downgraded to Underperform from Buy at BofA/Merrill with analyst Michael Carrier lowering estimates to reflect slower flow trends, a difficult product mix, and potential margin pressures ahead. 4. ProAssurance (PRA) downgraded to Underperform from Market Perform at Keefe Bruyette with analyst Christopher Campbell saying the stock has rallied 9% since the company's "disappointing" Q1 results. 5. Clorox (CLX) downgraded to Hold from Buy at Argus with analyst John Staszak citing the company's revenue deceleration reported in Q3 to "just 2%" as well as its near-term growth outlook cut to 2%-3% from 2%-4%. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/20/19
MSCO
05/20/19
NO CHANGE
MSCO
Morgan Stanley upgrades United, cuts American and Delta in airlines shake-up
As previously reported, Morgan Stanley analyst Rajeev Lalwani upgraded United Continental (UAL) to Overweight from Equal Weight, downgraded Delta Air Lines (DAL) to Equal Weight from Overweight and downgraded American Airlines (AAL) to Underweight from Equal Weight as he believes diverging paths may emerge for legacy airlines heading into 2020. United has well executing its mid-continent strategy and he sees that continuing with its loyalty program and largely stable costs leading him to believe its 2020 EPS target has a higher probability of being met, Lalwani tells investors in his sector shake-up note. Meanwhile, the analyst thinks American faces the most labor risk within the group, further compounded by rising jet fuel prices. Delta shares have outperformed year-to-date with a 10% advance and his refreshed 2020 estimates are moderately below consensus, Lalwani stated in explanation of his downgrade of that stock. The analyst raised his price target on United shares to $110 from $101, lowered his target on American to $26 from $40 and trimmed his price target on Delta to $61 from $62.
05/20/19
MSCO
05/20/19
DOWNGRADE
MSCO
Underweight
American Airlines downgraded to Underweight from Equal Weight at Morgan Stanley
04/30/19
IMPC
04/30/19
NO CHANGE
Target $4
IMPC
Outperform
American Airlines risk/reward attractive after Q1 results, says Imperial Capital
Imperial Capital analyst Michael Derchin sees an attractive risk/reward on shares of American Airlines following the company's Q1 results. The 737 Max issues are largely priced into the stock, while upside potential exists on unit revenues and current valuations reflect low expectations, Derchin tells investors in a research note. He lowered his price target for American Airlines to $40 from $43 and keeps an Outperform rating on the shares.

TODAY'S FREE FLY STORIES

BPMX

BioPharmX

$0.85

-0.0563 (-6.22%)

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MEET

Meet Group

$3.31

-0.265 (-7.42%)

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Apple

$198.60

-0.17 (-0.09%)

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$1,117.00

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AKRX

Akorn

$4.71

-0.06 (-1.26%)

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KRYS

Krystal Biotech

$41.15

11.87 (40.54%)

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  • 25

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ETFC

E-Trade

$44.57

-1.66 (-3.59%)

07:30
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ALDX

Aldeyra

$7.08

-0.29 (-3.93%)

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KHC

Kraft Heinz

$30.51

-0.98 (-3.11%)

07:26
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TSLA

Tesla

$223.66

1.76 (0.79%)

07:26
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GRUB

GrubHub

$72.05

0.91 (1.28%)

, MCD

McDonald's

$203.92

-0.29 (-0.14%)

07:26
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Upgrade
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GRUB

GrubHub

$72.05

0.91 (1.28%)

MCD

McDonald's

$203.92

-0.29 (-0.14%)

SBUX

Starbucks

$83.65

-0.16 (-0.19%)

03/08/13
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03/06/13
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ERI

Eldorado Resorts

$45.86

-5.36 (-10.46%)

07:25
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Conference/Events
Eldorado Resorts to host investor meeting »

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  • 25

    Jun

BPOP

Popular

$52.70

0.37 (0.71%)

07:23
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Popular analyst commentary  »

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  • 06

    Aug

MYGN

Myriad Genetics

$23.04

-0.47 (-2.00%)

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HEXO

HEXO Corp

$5.35

-0.245 (-4.38%)

07:20
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HEXO Corp rating change  »

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AVXL

Anavex

$3.25

-0.12 (-3.56%)

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ANGI

Angi Homeservices

$14.38

-0.21 (-1.44%)

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BHF

Brighthouse Financial

$38.10

-0.01 (-0.03%)

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AGTC

Applied Genetic

$3.80

-0.145 (-3.68%)

, AERI

Aerie Pharmaceuticals

$30.21

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AGTC

Applied Genetic

$3.80

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AERI

Aerie Pharmaceuticals

$30.21

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ALXN

Alexion

$126.92

-5.55 (-4.19%)

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MCHP

Microchip

$85.16

0.08 (0.09%)

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SLAB

Silicon Labs

$96.26

-0.41 (-0.42%)

07:14
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Initiation
Silicon Labs initiated  »

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LNC

Lincoln National

07:14
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06/25
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07:14
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Lincoln National rating change  »

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  • 01

    Aug

TRI

Thomson Reuters

$65.83

-0.16 (-0.24%)

07:13
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07:13
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Thomson Reuters rating change  »

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BHVN

Biohaven Pharmaceutical

$39.80

-1.26 (-3.07%)

07:13
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  • 26

    Jun

SHW

Sherwin-Williams

$465.88

0.225 (0.05%)

07:13
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07:13
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Sherwin-Williams rating change  »

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  • 10

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    Jul

ARVN

Arvinas

$21.81

(0.00%)

07:12
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Arvinas announces FDA clearance of ARV-471 IND »

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TIF

Tiffany

$91.86

-1.78 (-1.90%)

07:11
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07:11
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Tiffany rating change  »

Tiffany SSS may prove…

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