Breaking News Instant updates and real-time market news.

CMI

Cummins

$158.56

0.55 (0.35%)

, TEX

Terex

$27.70

-0.14 (-0.50%)

08:25
05/31/19
05/31
08:25
05/31/19
08:25

Evercore ISI downgrades four machinery stocks on trade war, commodity concerns

As previously reported, Evercore ISI analyst David Raso downgraded Terex (TEX), Oshkosh (OSK), Cummins (CMI) and Paccar (PCAR), all to In Line from Outperform. Of the "Big 5" headwinds he previously expected to underpin his machinery sector thesis, the base case for a U.S.-China trade resolution has now been lost and the expectation for commodity prices to swing from sharp declines to solid recovery in 2019 now looks "mixed to slightly negative," Raso tells investors in his sector note.

CMI

Cummins

$158.56

0.55 (0.35%)

TEX

Terex

$27.70

-0.14 (-0.50%)

PCAR

Paccar

$68.03

0.5 (0.74%)

OSK

Oshkosh

$75.11

-0.095 (-0.13%)

  • 05

    Jun

  • 01

    Aug

CMI Cummins
$158.56

0.55 (0.35%)

05/01/19
LOOP
05/01/19
DOWNGRADE
Target $168
LOOP
Hold
Cummins downgraded to Hold from Buy at Loop Capital
Loop Capital analyst Jeffrey Kauffman downgraded Cummins to Hold from Buy and lowered his price target for the shares to $168 from $174. The analyst believes good news is mostly priced into the shares at current valuation levels.
05/01/19
05/01/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. McDonald's (MCD) downgraded to Neutral from Buy at Longbow with analyst Alton Stump saying while the company's "impressive" U.S. comp growth in Q1 increases his confidence in comps over the last three quarters of the year, he also believes the stock reflects his favorable view with shares trading near his prior price target of $200. 2. Sabre (SABR) downgraded to Market Perform from Outperform at William Blair with analyst Matthew Pfau saying that while the company outperformed in Q1, it lowered guidance across all headline metrics. 3. Alkermes (ALKS) downgraded to Neutral from Buy at Citi with analyst Liav Abraham saying while the positive Phase 3 data for ALKS 3831 in Q4 support a constructive view on the compound, there are not "sufficient meaningful catalysts to drive material upside" in the stock for the remainder of 2019. 4. Tile Shop (TTS) downgraded to Neutral from Buy at Citi with analyst Geoffrey Small saying the company's turnaround "showed encouraging progress" in the second half of 2018, but the Q1 results "represented a sizeable step back." 5. Cummins (CMI) downgraded to Hold from Buy at Loop Capital with analyst Jeffrey Kauffman saying he believes good news is mostly priced into the shares at current valuation levels. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/30/19
EVER
05/30/19
DOWNGRADE
Target $169
EVER
In Line
Cummins downgraded to In Line from Outperform at Evercore ISI
Evercore ISI analyst David Raso downgraded Cummins to In Line from Outperform but raised his price target to $169 from $163.
05/01/19
FBCO
05/01/19
NO CHANGE
Target $198
FBCO
Outperform
Cummins price target raised to $198 from $165 at Credit Suisse
Credit Suisse analyst Jamie Cook raised his price target for Cummins to $198 from $165 following quarterly results and as he believes 2021 represents more normalized EPS for the company. The analyst reiterates an Outperform rating on the shares.
TEX Terex
$27.70

-0.14 (-0.50%)

02/26/19
MSCO
02/26/19
NO CHANGE
Target $35
MSCO
Equal Weight
Terex pivot to higher quality businesses removes overhang, says Morgan Stanley
After Terex announced the sale of its Demag Mobile Cranes business, Morgan Stanley analyst Courtney Yakavonis said the company's pivot toward its higher quality Aerial Work Platforms and "often-overlooked" Materials Processing businesses likely removes a significant overhang. While investors may find Terex easier to own in the absence of persistent Cranes-related volatility, Yakavonis thinks they will likely need to see incremental evidence of execution in order to step in longer-term and she maintains an Equal Weight rating on Terex shares.
02/26/19
WELS
02/26/19
NO CHANGE
Target $37
WELS
Market Perform
Terex price target raised to $37 from $32 at Wells Fargo
Wells Fargo analyst Andrew Casey raised his price target for Terex to $37 from $32 as he continues to view the company's investment case as a multiyear internal improvement story, with management taking another step down its path to improve over-all returns through the announced divestiture of its Demag all-terrain cranes business an exit from certain Crane products previously manufactured at its Oklahoma City facility. The analyst reiterates a Market Perform rating on the shares.
05/30/19
EVER
05/30/19
DOWNGRADE
Target $31
EVER
In Line
Terex downgraded to In Line from Outperform at Evercore ISI
Evercore ISI analyst David Raso downgraded Terex to In Line from Outperform and lowered his price target to $31 from $40.
04/23/19
UBSW
04/23/19
DOWNGRADE
Target $37
UBSW
Neutral
Terex downgraded to Neutral from Buy at UBS
UBS analyst Steven Fisher downgraded Terex to Neutral from Buy and lowered his price target for the shares to $37 from $50. The company is entering the "later innings of self-help" and its non-residential markets are slowing, Fisher tells investors in a research note.
PCAR Paccar
$68.03

0.5 (0.74%)

05/17/19
BMOC
05/17/19
NO CHANGE
Target $70
BMOC
Market Perform
Paccar price target raised to $70 from $65 at BMO Capital
BMO Capital analyst Joel Tiss raised his price target on Paccar to $70 after meeting with its CFO to discuss the product cycles of the company's "various truck markets", along with its international expansion opportunity and business growth potential. The analyst notes that the commentary around Europe was "stronger" than expected while the discussion about China was also "more interesting" for investment in that market over the longer term. Tiss raises his FY19 and FY20 EPS view by 30c and 45c to $6.90 and $5.80 respectively but also keeps his Market Perform rating on the stock, warning about the headwinds of higher cost environment and the possibility of an undershoot in truck production.
05/06/19
LBOW
05/06/19
DOWNGRADE
LBOW
Neutral
Paccar downgraded to Neutral from Buy at Longbow
05/30/19
EVER
05/30/19
DOWNGRADE
Target $76
EVER
In Line
Paccar downgraded to In Line from Outperform at Evercore ISI
Evercore ISI analyst David Raso downgraded Paccar to In Line from Outperform but raised his price target to $76 from $73.
04/02/19
JPMS
04/02/19
NO CHANGE
JPMS
March Class 8 truck orders drop 66% year-over-year, says JPMorgan
According to ACT Research, Class 8 net orders in March were 15,700 units, down 66% year-over-year, JPMorgan analyst Ann Duignan tells investors in a research note. The analyst points out that truck orders have the largest incremental impact on Navistar (NAV), Paccar (PCAR), Cummins (CMI), Eaton (ETN), Wabco (WBC) and Allison Transmission (ALSN).
OSK Oshkosh
$75.11

-0.095 (-0.13%)

05/01/19
SBSH
05/01/19
NO CHANGE
Target $95
SBSH
Buy
Oshkosh price target raised to $95 from $85 at Citi
Citi analyst Timothy Thein raised his price target for Oshkosh to $95 from $85 citing the company's "stronger" fiscal Q2 results and order trends. In a post-earnings research note titled "The Beat and Raise Train Rolls On," the analyst keeps a Buy rating on the shares.
05/01/19
JPMS
05/01/19
DOWNGRADE
Target $85
JPMS
Neutral
Oshkosh downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Ann Duignan downgraded Oshkosh to Neutral from Overweight while raising her price target for the shares to $85 from $80. The analyst sees a more "evenly balanced" risk/reward at current valuation levels with the shares up 35% year-to-date.
04/23/19
UBSW
04/23/19
INITIATION
Target $85
UBSW
Neutral
Oshkosh initiated with a Neutral at UBS
UBS analyst Steven Fisher started Oshkosh with a Neutral rating and $85 price target. The analyst sees a "sustained peak ahead" as the company's earnings shift from "cyclical businesses to Defense."
05/30/19
EVER
05/30/19
DOWNGRADE
Target $79
EVER
In Line
Oshkosh downgraded to In Line from Outperform at Evercore ISI
Evercore ISI analyst David Raso downgraded Oshkosh to In Line from Outperform and lowered his price target to $79 from $83.

TODAY'S FREE FLY STORIES

SAP

SAP

$127.69

-1.11 (-0.86%)

05:10
06/17/19
06/17
05:10
06/17/19
05:10
Upgrade
SAP rating change  »

SAP upgraded to Buy from…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 09

    Jul

E

Eni SpA

$31.24

-0.1 (-0.32%)

05:09
06/17/19
06/17
05:09
06/17/19
05:09
Upgrade
Eni SpA rating change  »

Eni SpA upgraded to Buy…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

EQNR

Equinor

$19.44

-0.06 (-0.31%)

05:08
06/17/19
06/17
05:08
06/17/19
05:08
Upgrade
Equinor rating change  »

Equinor upgraded to Hold…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 25

    Jul

ROYMY

Royal Mail

$0.00

(0.00%)

05:07
06/17/19
06/17
05:07
06/17/19
05:07
Upgrade
Royal Mail rating change  »

Royal Mail upgraded to…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

DOW

Dow Inc.

$51.12

-1.77 (-3.35%)

05:05
06/17/19
06/17
05:05
06/17/19
05:05
Downgrade
Dow Inc. rating change  »

Dow Inc. downgraded to…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

NRDBY

Nordea Bank

$0.00

(0.00%)

05:04
06/17/19
06/17
05:04
06/17/19
05:04
Downgrade
Nordea Bank rating change  »

Nordea Bank downgraded to…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

KMI

Kinder Morgan

$20.53

(0.00%)

05:03
06/17/19
06/17
05:03
06/17/19
05:03
Downgrade
Kinder Morgan rating change  »

Kinder Morgan downgraded…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

SYMC

Symantec

$19.36

-0.22 (-1.12%)

05:00
06/17/19
06/17
05:00
06/17/19
05:00
Upgrade
Symantec rating change  »

Symantec upgraded to Buy…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

OGE

OGE Energy

$43.42

0.17 (0.39%)

04:56
06/17/19
06/17
04:56
06/17/19
04:56
Initiation
OGE Energy initiated  »

OGE Energy initiated with…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

04:55
06/17/19
06/17
04:55
06/17/19
04:55
General news
Breaking General news story  »

6-Month Bill Auction to…

04:55
06/17/19
06/17
04:55
06/17/19
04:55
Conference/Events
CLSA India economics & strategy luncheon meeting »

India Strategist…

IR

Ingersoll-Rand

$124.65

0.31 (0.25%)

04:55
06/17/19
06/17
04:55
06/17/19
04:55
Conference/Events
Ingersoll-Rand management to meet with Stephens »

Meeting to be held in…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 17

    Jun

NTGN

Neon Therapeutics

$4.76

-0.15 (-3.06%)

04:55
06/17/19
06/17
04:55
06/17/19
04:55
Conference/Events
Neon Therapeutics management to meet with Mizuho »

Meetings to be held in…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 17

    Jun

  • 18

    Jun

  • 18

    Jun

NVTA

Invitae

$19.20

-0.43 (-2.19%)

04:55
06/17/19
06/17
04:55
06/17/19
04:55
Conference/Events
Invitae participates in a conference call with JPMorgan »

Life Science Tools &…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 17

    Jun

  • 06

    Aug

DL

China Distance Education

$5.41

(0.00%)

04:55
06/17/19
06/17
04:55
06/17/19
04:55
Conference/Events
China Distance Education management to meet with Sidoti »

Meetings to be held in…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 17

    Jun

  • 18

    Jun

QRTEA

Qurate Retail

$12.83

-0.4 (-3.02%)

04:55
06/17/19
06/17
04:55
06/17/19
04:55
Conference/Events
Qurate Retail management to meet with KeyBanc »

Meeting to be held in…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 17

    Jun

  • 20

    Jun

04:55
06/17/19
06/17
04:55
06/17/19
04:55
General news
Breaking General news story  »

3-Month Bill Auction to…

GNL

Global Net Lease

$19.58

0.13 (0.67%)

04:55
06/17/19
06/17
04:55
06/17/19
04:55
Conference/Events
Global Net Lease management to meet with B. Riley FBR »

Meeting to be held in…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 17

    Jun

ITT

ITT

$62.33

-0.54 (-0.86%)

04:55
06/17/19
06/17
04:55
06/17/19
04:55
Conference/Events
ITT management to meet with William Blair »

Meeting to be held in…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 17

    Jun

TGODF

The Green Organic Dutchman

$0.00

(0.00%)

04:55
06/17/19
06/17
04:55
06/17/19
04:55
Conference/Events
The Green Organic Dutchman Seaport Global »

Meetings to be held in…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 17

    Jun

  • 18

    Jun

04:55
06/17/19
06/17
04:55
06/17/19
04:55
Conference/Events
Stephens banking analysts to hold an analyst/industry conference call »

Analysts, along with the…

AGTC

Applied Genetic

$3.89

0.04 (1.04%)

04:55
06/17/19
06/17
04:55
06/17/19
04:55
Conference/Events
Applied Genetic management to meet with Wedbush »

Meetings to be held in…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 17

    Jun

  • 18

    Jun

AMRS

Amyris

$3.93

-0.16 (-3.91%)

04:55
06/17/19
06/17
04:55
06/17/19
04:55
Conference/Events
Amyris management to meet with Seaport Global »

Meetings to be held in…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 17

    Jun

  • 18

    Jun

IONS

Ionis Pharmaceuticals

$62.07

-1.79 (-2.80%)

04:55
06/17/19
06/17
04:55
06/17/19
04:55
Conference/Events
Ionis Pharmaceuticals management to meet with Piper Jaffray »

Meeting to be held in…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 17

    Jun

  • 18

    Jun

RTIX

RTI Surgical

$4.20

-0.09 (-2.10%)

04:55
06/17/19
06/17
04:55
06/17/19
04:55
Conference/Events
RTI Surgical management to meet with JMP Securities »

Meeting to be held in…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 17

    Jun

Get Full Fly Access

Breaking market intelligence sent straight to you
Our team of experts analyze every news story and filter out the noise to deliver real-time market moving news.
Up-to-date information on important industry events
Get real-time updates on events that are moving the market—from conferences and calls to syndicate announcements.
News focused on the companies in your portfolio
Create up to 12 portfolios with 150 stocks each, and see how active they are in market news.