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BX

Blackstone

$44.16

-0.01 (-0.02%)

, APO

Apollo Global

$33.67

0.33 (0.99%)

07:17
06/27/19
06/27
07:17
06/27/19
07:17

Blackstone removed from U.S. Focus List at Citi

Citi analyst William Katz removed Blackstone (BX) from his firm's U.S. Focus List following the stock's 40% year-to-date appreciation. The analyst sees greater upside elsewhere but believes Blackstone's fundraising and business diversification "remains best-in-class." value. Apollo Global (APO) now sits atop the analyst's ranks given the company's "incrementally more attractive risk/reward paired with favorable C-Corp catalysts."

BX

Blackstone

$44.16

-0.01 (-0.02%)

APO

Apollo Global

$33.67

0.33 (0.99%)

  • 18

    Jul

BX Blackstone
$44.16

-0.01 (-0.02%)

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.
04/23/19
SBSH
04/23/19
NO CHANGE
SBSH
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.
06/05/19
MSCO
06/05/19
NO CHANGE
Target $50
MSCO
Overweight
Morgan Stanley lays out 3 reasons to buy Blackstone after C-Corp conversion
Morgan Stanley analyst Michael Cyprys laid out three reasons he sees for buying Blackstone in the wake of the company's announcement to convert to a C-Corporation. Namely, he believes the stock is under-owned; he forecasts faster revenue growth for the company than he does for other financials; and he views the shares as valued "well below" other high quality financial services stocks. Cyprys, who keeps an Overweight rating on Blackstone shares, raised his price target on the stock to $50 from $45 as he shifted his valuation focus to P/E from sum-of-the-parts.
06/25/19
SBSH
06/25/19
INITIATION
Target $23
SBSH
Buy
Tallgrass Energy reinstated with a Buy at Citi
Citi analyst Timm Schneider reinstated coverage of Tallgrass Energy (TGE) following the company's transaction with Blackstone (BX) and keeps a Buy rating and $23 price target on the shares. He expects lower volumetric throughput and tariff rates from 2020 onwards given contract expirations amid what may be a challenging re-contracting environment.
APO Apollo Global
$33.67

0.33 (0.99%)

06/11/19
06/11/19
DOWNGRADE
Target $57

Hold
Shutterfly downgraded to Hold at SunTrust on Apollo bid
As previously reported, SunTrust analyst Youssef Squali downgraded Shutterfly (SFLY) to Hold from Buy with an unchanged price target of $57 after the company's board agreed to be acquired by Apollo Global (APO). The analyst states that the probability of a competitive bid is "low", with the board having run a "comprehensive process" that included 40 potential buyers. Squali further cites the absence of a go-shop provision in the bid as well as a "nominal" $51M break-up fee that Shutterfly would be required to pay to Apollo.
06/11/19
06/11/19
DOWNGRADE

Sector Weight
Shutterfly downgraded to Sector Weight at KeyBanc
As previously reported, KeyBanc analyst downgraded Shutterfly (SFLY) to Sector Weight from Overweight after the company board agreed to the proposed acquisition by Apollo Global (APO). The analyst thinks Apollo can move quickly to monetize synergies, particularly with synergies from Snapfish. Given that Shutterfly ran a public and complete process, the stock should move to the proposed deal price, he contends.
06/11/19
RAJA
06/11/19
DOWNGRADE
RAJA
Market Perform
Shutterfly acquisition price 'somewhat disappointing,' says Raymond James
Raymond James analyst Aaron Kessler downgraded Shutterfly (SFLY) to Market Perform from Outperform after the company reached an agreement to be acquired by Apollo Global (APO), saying that while the deal was largely anticipated, he is "somewhat disappointed" in the lower-than-expected acquisition price. He feels the price likely reflects uncertainty around Shutterfly's core organic growth and level of synergies with Lifetouch.
06/11/19
SPHN
06/11/19
DOWNGRADE
SPHN
Equal Weight
Stephens downgrades Tegna, thinks Dispatch deal makes takeover less likely
As previously reported, Stephens analyst Kyle Evans downgraded Tegna (TGNA) to Equal Weight from Overweight and lowered his price target on the shares to $17 from $19 after the company agreed to acquire stations in Indianapolis and Columbus for $535M in cash from Dispatch Broadcast Group. While he said he likes the free cash flow accretion, increased scale and addition of an Ohio station ahead of the 2020 political cycle, Evans thinks current valuation and the growing scale make Tegna a less likely target for Apollo (APO).

TODAY'S FREE FLY STORIES

PNR

Pentair

$37.59

0.21 (0.56%)

07:01
07/23/19
07/23
07:01
07/23/19
07:01
Earnings
Pentair reports Q2 adjusted EPS 69c, consensus 65c »

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  • 23

    Jul

SKIS

Peak Resorts

$10.85

5.71 (111.09%)

, MTN

Vail Resorts

$235.48

9.665 (4.28%)

07:01
07/23/19
07/23
07:01
07/23/19
07:01
Downgrade
Peak Resorts, Vail Resorts rating change  »

Peak Resorts downgraded…

SKIS

Peak Resorts

$10.85

5.71 (111.09%)

MTN

Vail Resorts

$235.48

9.665 (4.28%)

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KO

Coca-Cola

$51.25

-0.15 (-0.29%)

07:00
07/23/19
07/23
07:00
07/23/19
07:00
Earnings
Coca-Cola sees FY19 5% growth in organic revenues »

FY19 revenue consensus…

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  • 23

    Jul

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    Sep

HOG

Harley-Davidson

$34.25

-0.62 (-1.78%)

07:00
07/23/19
07/23
07:00
07/23/19
07:00
Hot Stocks
Harley-Davidson cuts FY19 shipment view to 212,000-217,000 from 217,000-222,000 »

Sees FY19 motorcycles…

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  • 23

    Jul

UTX

United Technologies

$132.94

0.57 (0.43%)

06:59
07/23/19
07/23
06:59
07/23/19
06:59
Earnings
United Technologies reports Q2 adj. EPS $2.20, consensus $2.05 »

Reports Q2 revenue…

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  • 23

    Jul

DRI

Darden

$125.43

1.03 (0.83%)

06:59
07/23/19
07/23
06:59
07/23/19
06:59
Initiation
Darden initiated  »

Darden initiated with an…

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  • 14

    Aug

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    Aug

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    Aug

CDOR

Condor Hospitality Trust

$10.97

2.7 (32.65%)

06:58
07/23/19
07/23
06:58
07/23/19
06:58
Downgrade
Condor Hospitality Trust rating change  »

Condor Hospitality…

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CTG

Computer Task Group

$4.08

0.025 (0.62%)

06:58
07/23/19
07/23
06:58
07/23/19
06:58
Earnings
Computer Task Group sees FY19 non-GAAP EPS 32c-38c, consensus 33c »

Raises FY19 revenue view…

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  • 23

    Jul

  • 25

    Jul

CADE

Cadence Bancorp

$15.86

-3.75 (-19.12%)

06:58
07/23/19
07/23
06:58
07/23/19
06:58
Recommendations
Cadence Bancorp analyst commentary  »

Cadence Bancorp price…

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  • 06

    Aug

  • 26

    Aug

  • 23

    Sep

TRV

Travelers

$149.95

-0.22 (-0.15%)

06:58
07/23/19
07/23
06:58
07/23/19
06:58
Hot Stocks
Travelers reports Q2 book value per share $97.26 »

Book value per share of…

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  • 23

    Jul

  • 06

    Aug

CTSH

Cognizant

$65.54

0.42 (0.64%)

06:58
07/23/19
07/23
06:58
07/23/19
06:58
Downgrade
Cognizant rating change  »

Cognizant downgraded to…

03/08/13
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  • 31

    Jul

TRV

Travelers

$149.95

-0.22 (-0.15%)

06:57
07/23/19
07/23
06:57
07/23/19
06:57
Earnings
Travelers reports Q2 core EPS $2.02, consensus $2.29 »

Reports Q2 revenue…

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  • 23

    Jul

  • 06

    Aug

HOG

Harley-Davidson

$34.25

-0.62 (-1.78%)

06:57
07/23/19
07/23
06:57
07/23/19
06:57
Earnings
Harley-Davidson reports Q2 ex-items EPS $1.46, consensus $1.20 »

Reports Q2 revenue…

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  • 23

    Jul

KO

Coca-Cola

$51.25

-0.15 (-0.29%)

06:56
07/23/19
07/23
06:56
07/23/19
06:56
Earnings
Coca-Cola provides Q3 outlook »

Comparable net revenues…

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  • 23

    Jul

  • 19

    Sep

CTG

Computer Task Group

$4.08

0.025 (0.62%)

06:56
07/23/19
07/23
06:56
07/23/19
06:56
Earnings
Computer Task Group reports Q2 non-GAAP EPS 9c, consensus 7c »

Reports Q2 revenue…

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  • 23

    Jul

  • 25

    Jul

KO

Coca-Cola

$51.25

-0.15 (-0.29%)

06:55
07/23/19
07/23
06:55
07/23/19
06:55
Earnings
Coca-Cola reports Q2 comparable cont ops EPS 63c, consensus 61c »

Reports Q2 revenue $10B,…

03/08/13
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  • 23

    Jul

  • 19

    Sep

ZION

Zions Bancorp

$45.16

-0.95 (-2.06%)

06:54
07/23/19
07/23
06:54
07/23/19
06:54
Recommendations
Zions Bancorp analyst commentary  »

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TRU

TransUnion

$74.91

-0.14 (-0.19%)

06:54
07/23/19
07/23
06:54
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06:54
Hot Stocks
TransUnion says TransUnion Limited victim of criminal fraud »

"On July 12, 2019,…

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  • 23

    Jul

  • 12

    Aug

LKSD

LSC Communications

$3.48

0.015 (0.43%)

06:54
07/23/19
07/23
06:54
07/23/19
06:54
Earnings
LSC Communications sees Q2 revenue $ $865M-$875M, consensus $881.33M »

Sees Q2 GAAP net loss of…

03/08/13
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AN

AutoNation

$42.01

-0.045 (-0.11%)

06:53
07/23/19
07/23
06:53
07/23/19
06:53
Recommendations
AutoNation analyst commentary  »

AutoNation shares to…

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  • 23

    Jul

  • 13

    Nov

TRU

TransUnion

$74.91

-0.14 (-0.19%)

06:53
07/23/19
07/23
06:53
07/23/19
06:53
Earnings
TransUnion sees Q3 adjusted EPS 69c-71c, consensus 69c »

Sees Q3 adjusted revenue…

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  • 23

    Jul

  • 12

    Aug

MTG

MGIC Investment

$13.16

-0.12 (-0.90%)

06:52
07/23/19
07/23
06:52
07/23/19
06:52
Earnings
MGIC Investment reports Q2 EPS 46c, consensus 42c »

Reports Q2 revenue…

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  • 23

    Jul

TRU

TransUnion

$74.91

-0.14 (-0.19%)

06:52
07/23/19
07/23
06:52
07/23/19
06:52
Earnings
TransUnion raises FY19 adjusted EPS view to $2.66-$2.69 from $2.60-$2.65 »

FY19 consensus $2.65. The…

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  • 23

    Jul

  • 12

    Aug

DGX

Quest Diagnostics

$98.07

-1.175 (-1.18%)

06:51
07/23/19
07/23
06:51
07/23/19
06:51
Earnings
Quest Diagnostics backs FY19 adj. EPS view of greater than $6.40 »

Consensus $6.46. Backs…

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  • 23

    Jul

  • 08

    Aug

  • 09

    Sep

HCAT

Health Catalyst

$0.00

(0.00%)

06:51
07/23/19
07/23
06:51
07/23/19
06:51
Syndicate
Health Catalyst raises IPO price range to $24.00-$25.00, increases shares »

The Health Catalyst IPO…

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    Jul

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    Jul

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    Jul

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