Breaking News Instant updates and real-time market news.

CTVA

Corteva

$28.79

-0.19 (-0.66%)

, CC

Chemours

$21.85

0.69 (3.26%)

08:39
07/05/19
07/05
08:39
07/05/19
08:39

Corteva may be on the hook for legacy DuPont liabilities, says Loop Capital

Loop Capital analyst Chris Kapsch lowered his price target on Corteva (CTVA) to $30 from $31 and kept his Hold rating, saying the complaint brought this week in the courts by Chemours (CC) against DuPont (DD) suggests there is still "dust to settle" regarding legacy DuPont environmental and personal injury liabilities, for which Corteva may be partially responsible. The analyst notes that the prospective liability is "impossible to precisely quantify", but he estimates that it could be somewhere between the $790M amount previously referenced in Corteva's recent 10-Q filing and a maximum of about $1.2B.

CTVA

Corteva

$28.79

-0.19 (-0.66%)

CC

Chemours

$21.85

0.69 (3.26%)

DD

DuPont

$74.20

-0.61 (-0.82%)

CTVA Corteva
$28.79

-0.19 (-0.66%)

07/02/19
LOOP
07/02/19
INITIATION
Target $31
LOOP
Hold
'Wait-and-see' approach is 'prudent' for Corteva, says Loop Capital
Loop Capital analyst Chris Kapsch initiated Corteva with a Hold rating and $31 price target, saying he is currently "very interested" in the crop protection space, but sees the stock as close to fairly valued at this time. Kapsch tells investors in a research note that he feels a "wait-and-see" approach is prudent because there is currently limited visibility associated with the future commercial success of key innovative product offerings from the company's Seeds and Crop Protection franchises.
06/21/19
JPMS
06/21/19
INITIATION
Target $30
JPMS
Overweight
Corteva initiated with an Overweight at JPMorgan
JPMorgan analyst Jeffrey Zekauskas started Corteva with an Overweight rating and $30 price target. The combination of new product introductions in crop chemicals, intermittent positive pricing effects, and cost reduction efforts should lead to "good growth" in EBITDA in 2020 and beyond, Zekauskas tells investors in a research note. He thinks agricultural investors will migrate into Corteva shares given its "business quality and pricing power."
07/01/19
LEHM
07/01/19
INITIATION
Target $32
LEHM
Equal Weight
Corteva initiated with an Equal Weight at Barclays
Barclays analyst Duffy Fischer started Corteva with an Equal Weight rating and $32 price target. The company is facing a difficult agriculture macro environment in 2019 that could cause consensus estimates to move lower, Fischer tells investors in a research note. He believes the lack of a U.S.-China trade deal and African Swine Fever are causing "significant stress" on the ag macro.
07/01/19
LOOP
07/01/19
INITIATION
Target $31
LOOP
Hold
Corteva initiated with a Hold at Loop Capital
Loop Capital started Corteva with a Hold rating and $31 price target.
CC Chemours
$21.85

0.69 (3.26%)

06/10/19
JEFF
06/10/19
NO CHANGE
Target $30
JEFF
Buy
Chemours price target lowered to $30 from $48 at Jefferies
Jefferies analyst Laurence Alexander lowered his price target for Chemours to $30 from $48 while keeping a Buy rating on the shares. The PFAS litigation news cycle will likely extend several years, driving "investor fatigue" on Chemours shares, even if some of the nearer-term litigation is resolved favorably, Alexander tells investors in a research note.
06/24/19
BMOC
06/24/19
NO CHANGE
Target $45
BMOC
Outperform
Chemours price target lowered to $45 from $50 at BMO Capital
BMO Capital analyst John McNulty lowered his price target on Chemours to $45 from $50 citing macro softness leading to weaker coatings demand and a tough refrigerants market. He also noted there is little sign of any pick up, but the second half of the year should see a modest recovery. McNulty maintained his Outperform rating on Chemours shares.
05/06/19
RBCM
05/06/19
NO CHANGE
Target $43
RBCM
Outperform
Chemours price target lowered to $43 from $50 at RBC Capital
RBC Capital analyst Arun Viswanathan lowered his price target on Chemours to $43 after its Q1 earnings miss and "slightly bearish" management outlook for Q2. The analyst also warns that the performance in the Fluoroproducts segment could be similar in Q2 as in Q1 despite the management's forecast of improvement given the softer base refrigerant demand in North America. Viswanathan keeps his Outperform rating however and believes that titanium dioxide volumes could improve in the back half of 2019 as destocking activity runs its course.
05/15/19
RHCO
05/15/19
NO CHANGE
RHCO
Buy
PFAS liability worries for Chemours seem 'premature,' says SunTrust
SunTrust analyst James Sheehan said he mainly attributes the 29% decline in Chemours shares since May 3 to worries about the impact of rising tariffs on titanium dioxide, or TiO2. However, he also notes that at the Ira Sohn conference on May 6 a bearish investor made the "sensational claim" that the company faces "$4-$6B" of potential liabilities from per- and polyfluoroalkyls, or PFAS. After speaking with management, Sheehan noted that they said PFAS is a term that combines several distinct products, some of which Chemours has no exposure to. The company utilizes a PFAS product called GenX, said it sees limited related litigation risk and that it believes it is adequately reserved for any potential liabilities, according to Sheehan. Given the lack of specific legal claims against Chemours regarding PFAS, as well as the company's "proactive stance" on going above the existing regulations in eliminating GenX emissions, Sheehan said he believes concerns about PFAS-related liabilities are "premature." He keeps a Buy rating on Chemours with a price target of $52.
DD DuPont
$74.20

-0.61 (-0.82%)

06/10/19
06/10/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Postal Realty Trust (PSTL) initiated with an Outperform at BMO Capital as well as a Buy at DA Davidson and Stifel. 2. Applied Therapeutics (APLT) initiated with an Outperform at Cowen and Baird as well as a Buy at Citi and UBS. 3. MPLX (MPLX) initiated with a Market Perform at BMO Capital. 4. DuPont (DD) initiated with an Outperform at Cowen. 5. Boston Beer (SAM) initiated with a Neutral at Credit Suisse. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
06/12/19
DBAB
06/12/19
NO CHANGE
Target $88
DBAB
Buy
DuPont price target raised to $88 from $80 at Deutsche Bank
Deutsche Bank analyst David Begleiter raised his price target for DuPont to $88 from $80 saying he remains positive on the shares following the company's business update conference call. The company reiterated its Q2 and 2019 divisional EBITDA guidance and stated the 80% of its portfolio which performed well in Q1 has continued to run well in April and May, Begleiter tells investors in a research note. He keeps a Buy rating on DuPont.
06/20/19
RBCM
06/20/19
INITIATION
Target $80
RBCM
Sector Perform
DuPont initiated with a Sector Perform at RBC Capital
RBC Capital analyst Arun Viswanathan initiated DuPont (DD) with a Sector Perform rating and a price target of $80 after its completed spin-offs, saying the current valuation asks investors for a "leap of faith" with multiples comparable to multi-industry peers like 3M (MMM) and Honeywell (HON). The analyst notes that although the company's improvements are "tangible", he also sees its prospects as more dependent on the macro conditions. Given the softer auto and smartphone demand in China, Viswanathan prefers to have "greater confidence" in DuPont performance before assigning a higher multiple.
06/25/19
ARGS
06/25/19
NO CHANGE
Target $88
ARGS
Buy
DuPont should realize $1.1B of merger cost synergies by 2020E, says Argus
Argus analyst Bill Selesky reiterated a Buy rating on DuPont (DD), the renamed DowDuPont (DWDP), with a revised price target of $88, telling investors in a research note that he believes DuPont is on track to realize $1.1B of merger cost synergies by the end of 2020, compared to an original target of $0.8B, and says he feels DuPont should be viewed as a leading multi-industry, specialty material company with an "attractive" valuation, sustainable dividend and above-average earnings growth rate.

TODAY'S FREE FLY STORIES

GOSS

Gossamer Bio

$19.60

-0.48 (-2.39%)

13:30
07/18/19
07/18
13:30
07/18/19
13:30
Options
Gossamer Bio call volume spikes on November purchase wit shares at 52wk lows »

Gossamer Bio call volume…

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

13:25
07/18/19
07/18
13:25
07/18/19
13:25
Conference/Events
Cowen healthcare/biotech analysts to hold an analyst/industry conference call »

Healthcare Technology…

PEP

PepsiCo

$132.17

-0.6 (-0.45%)

13:24
07/18/19
07/18
13:24
07/18/19
13:24
Periodicals
Breaking Periodicals news story on PepsiCo »

PepsiCo in talks 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

13:20
07/18/19
07/18
13:20
07/18/19
13:20
General news
Treasury's $14 B 10-year TIPS sale was on the soft side »

Treasury's $14 B…

$NSD

NASDAQ Market Internals

$0.00

(0.00%)

13:17
07/18/19
07/18
13:17
07/18/19
13:17
Technical Analysis
NASDAQ market internals summary »

Volume is average for…

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

$NYE

NYSE Market Internals

$0.00

(0.00%)

13:16
07/18/19
07/18
13:16
07/18/19
13:16
Technical Analysis
NYSE market internals summary »

Volume is average for…

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

UNIT

Uniti Group

$8.55

-0.03 (-0.35%)

13:15
07/18/19
07/18
13:15
07/18/19
13:15
Options
Uniti Group put volume heavy and directionally bearish »

Bearish flow noted 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

  • 08

    Aug

13:09
07/18/19
07/18
13:09
07/18/19
13:09
General news
10-Yr TIPS Auction Coupon Rate data reported »

10-Yr TIPS Auction Coupon…

13:09
07/18/19
07/18
13:09
07/18/19
13:09
General news
10-Yr TIPS Auction Total Amount data reported »

10-Yr TIPS Auction Total…

TELL

Tellurian

$6.99

0.32 (4.80%)

13:05
07/18/19
07/18
13:05
07/18/19
13:05
Options
Tellurian call volume above normal and directionally bullish »

Bullish option flow…

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

12:57
07/18/19
07/18
12:57
07/18/19
12:57
Conference/Events
Stephens architecture analysts to hold analyst/industry conference call nosymbol »

Analysts hold an…

EMR

Emerson

$64.26

-0.4 (-0.62%)

12:55
07/18/19
07/18
12:55
07/18/19
12:55
Options
Emerson put volume heavy and directionally bearish »

Bearish flow noted 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

  • 30

    Jul

  • 06

    Aug

  • 22

    Aug

  • 06

    Sep

12:45
07/18/19
07/18
12:45
07/18/19
12:45
General news
Treasury $14 B 10-year TIPS preview: the auction outlook is mixed. »

Treasury $14 B 10-year…

FB

Facebook

$200.15

-1.82 (-0.90%)

12:43
07/18/19
07/18
12:43
07/18/19
12:43
Periodicals
Instagram hiding 'likes' in more countries to ease pressure, Gadgets says »

Facebook's Instagram…

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

  • 24

    Jul

DHR

Danaher

$141.79

2.19 (1.57%)

12:40
07/18/19
07/18
12:40
07/18/19
12:40
Recommendations
Danaher analyst commentary at Piper Jaffray »

Danaher price target…

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

  • 18

    Jul

  • 07

    Nov

AXP

American Express

$128.02

0.975 (0.77%)

, V

Visa

$179.16

(0.00%)

12:39
07/18/19
07/18
12:39
07/18/19
12:39
Earnings
Fly Intel: What to watch in credit card space earnings reports »

American Express (AXP),…

AXP

American Express

$128.02

0.975 (0.77%)

V

Visa

$179.16

(0.00%)

MA

MasterCard

$275.83

0.49 (0.18%)

UBER

Uber

$43.74

0.12 (0.28%)

LYFT

Lyft

$65.51

0.35 (0.54%)

WU

Western Union

$20.42

0.02 (0.10%)

BBVA

Banco Bilbao

$5.42

-0.055 (-1.01%)

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

  • 19

    Jul

  • 23

    Jul

  • 30

    Jul

  • 01

    Aug

  • 07

    Aug

  • 08

    Aug

  • 08

    Aug

  • 27

    Oct

  • 13

    Nov

BUD

AB InBev

$88.73

0.31 (0.35%)

, KKR

KKR

$25.38

-0.08 (-0.31%)

12:36
07/18/19
07/18
12:36
07/18/19
12:36
Periodicals
AB InBev weighs asset sales after calling off Asian IPO, WSJ reports »

Anheuser-Busch InBev…

BUD

AB InBev

$88.73

0.31 (0.35%)

KKR

KKR

$25.38

-0.08 (-0.31%)

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

  • 25

    Jul

ESV

Ensco Rowan

$7.74

-0.16 (-2.03%)

12:35
07/18/19
07/18
12:35
07/18/19
12:35
Options
Ensco put volume heavy and directionally bearish »

Bearish flow noted 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

  • 01

    Aug

  • 27

    Aug

CHS

Chico's

$3.29

-0.13 (-3.80%)

12:34
07/18/19
07/18
12:34
07/18/19
12:34
Hot Stocks
Chico's FAS initiates Fort Myers lockdown after call over active shooter threat »

Chico's FAS issued…

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

CPE

Callon Petroleum

$4.87

-0.35 (-6.71%)

12:33
07/18/19
07/18
12:33
07/18/19
12:33
Conference/Events
Callon Petroleum management to meet with JPMorgan »

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

  • 18

    Jul

  • 19

    Jul

  • 27

    Aug

BUD

AB InBev

$88.64

0.22 (0.25%)

12:29
07/18/19
07/18
12:29
07/18/19
12:29
Hot Stocks
Breaking Hot Stocks news story on AB InBev »

AB InBev up 1% to $89.30…

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

BUD

AB InBev

$88.64

0.22 (0.25%)

12:29
07/18/19
07/18
12:29
07/18/19
12:29
Periodicals
Breaking Periodicals news story on AB InBev »

AB InBev exploring asset…

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

UAL

United Continental

$94.94

0.11 (0.12%)

, BA

Boeing

$363.48

-5.97 (-1.62%)

12:28
07/18/19
07/18
12:28
07/18/19
12:28
Hot Stocks
United to resume service between New York/Newark and Delhi and Mumbai »

United Airlines (UAL)…

UAL

United Continental

$94.94

0.11 (0.12%)

BA

Boeing

$363.48

-5.97 (-1.62%)

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

  • 24

    Jul

12:25
07/18/19
07/18
12:25
07/18/19
12:25
Conference/Events
William Blair enterprise & cloud infrastructure analyst to hold a group luncheon »

Enterprise & Cloud…

BA

Boeing

$363.39

-6.06 (-1.64%)

12:24
07/18/19
07/18
12:24
07/18/19
12:24
Periodicals
Some Boeing planes may be prone to cell phone interference, Bloomberg says »

According to a story 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

  • 24

    Jul

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.