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BAYRY

Bayer

$0.00

(0.00%)

, ELAN

Elanco

$33.28

-0.08 (-0.24%)

11:31
07/09/19
07/09
11:31
07/09/19
11:31

Bayer seeking animal health merger with Elanco, Reuters says

Bayer (BAYRY) has approached Elanco Animal Health (ELAN) to discuss a possible combination of their pet-health businesses to create an industry giant, Reuters' Arno Schuetze and Pamela Barbaglia report, citing three people familiar with the matter. The two companies are working with banks to ensure any merger would secure regulatory approval, the sources said. Reference Link

BAYRY

Bayer

$0.00

(0.00%)

ELAN

Elanco

$33.28

-0.08 (-0.24%)

  • 09

    Sep

  • 25

    Sep

BAYRY Bayer
$0.00

(0.00%)

03/21/19
03/21/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Biogen (BIIB) downgraded to Market Perform from Outperform at Wells Fargo after the company reported the failure of two phase 3 trials for a potential treatment of Alzheimer's disease. 2. Magna (MGA) downgraded to Market Perform from Outperform at BMO Capital with analyst Peter Sklar noting BMW's (BMWYY) lowered 2019 earnings guidance on numerous headwinds reflects how difficult it is for auto manufacturers to grow earnings during a period of flat to declining vehicle production volumes. 3. Munich Re (MURGY) downgraded to Hold from Buy at Jefferies with analyst Philip Kett saying he believes the recent rally leaves less room for valuation upside. 4. Nufarm (NFRMY) downgraded to Neutral from Overweight at JPMorgan with analyst Donald Carducci noting glyphosate is becoming a concern for Bayer (BAYRY) due to a recent U.S. case progressing to phase two. 5. Micron (MU) downgraded to Sell from Neutral at Citi with analyst Christopher Danely saying Micronis trying its best but "you can't swim against a tsunami". This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/31/19
DBAB
03/31/19
DOWNGRADE
DBAB
Hold
Bayer downgraded to Hold from Buy at Deutsche Bank
04/01/19
BREN
04/01/19
DOWNGRADE
BREN
Hold
Bayer resumed with a Hold from Buy at Berenberg
Berenberg transferred coverage of Bayer to analyst Sebastian Bray and downgraded the stock to Hold from an under review designation. The analyst sees downside from legal settlements following the unfavorable glyphosate verdicts. He has a price target of EUR 67 for the shares.
06/04/19
PIPR
06/04/19
NO CHANGE
Target $32
PIPR
Overweight
Piper remains buyer of Arvinas after 'transformative' Bayer alliance
Piper Jaffray analyst Edward Tenthoff views Arvinas' (ARVN) alliance with Bayer (BAYRY) as "transformative." He's a buyer of the stock ahead of the Phase I ARV-110 data in metastatic castrate resistance prostate cancer in the second half of 2019. The analyst estimates Arvinas now holds pro forma cash of $225M to fund operations into the second half of 2021. Tenthoff reiterates an Overweight rating on Bayer with a $32 price target.
ELAN Elanco
$33.28

-0.08 (-0.24%)

05/23/19
GUGG
05/23/19
INITIATION
GUGG
Neutral
Phibro Animal Health initiated with a Neutral at Guggenheim
Guggenheim analyst David Westenberg initiated coverage on 10 companies in animal health, starting Phibro Animal Health (PAHC) with a Neutral rating, citing what he views as "a trifecta of headwinds." Namely, he sees consumers growing increasingly wary of medically important antibiotics, or MIAs; he notes that MIAs account for about two-thirds of the company's revenue; and he notes that the dairy market is currently in a slump. Though trading at a steep discount to Zoetis (ZTS) and Elanco (ELAN), Westenberg sees Phibro shares as fairly valued.
05/23/19
GUGG
05/23/19
INITIATION
GUGG
Neutral
Elanco initiated with a Neutral at Guggenheim
Guggenheim analyst David Westenberg initiated coverage on 10 companies in animal health, starting Elanco with a Neutral rating. He sees limited upside potential from Credelio and Interceptor Plus and cites limited visibility into the company's pipeline, though Westenberg also expects continued strong sales of Galliprant and thinks margin expansion goals are "mostly achievable."
05/23/19
05/23/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Elanco (ELAN) initiated with a Neutral at Guggenheim. 2. Cooper Tire (CTB) initiated with an Overweight at KeyBanc while Goodyear Tire (GT) was initiated with a Sector Weight. 3. SciPlay (SCPL) initiated with a Buy at Craig-Hallum and an Overweight at Stephens. 4. Target Hospitality (TH) initiated with an Outperform at Credit Suisse and Oppenheimer. 5. Allogene Therapeutics (ALLO) initiated with a Hold at Stifel. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
07/08/19
EVER
07/08/19
NO CHANGE
EVER
Outperform
First generic Rumensin approval earlier than Elanco expected, says Evercore ISI
Evercore ISI analyst Umer Raffat notes that the first generic for Rumensin has been approved, earlier than expected by Elanco (ELAN), which had modeled a possible generic entry in 2020. Many investors had assumed that Zoetis (ZTS) "may be the first generic" but it was "actually a Hungarian company, Huvepharma," the analyst noted. Raffat also highlighted that Rumensin is Elanco's biggest product. The analyst has an Outperform rating on Elanco's shares.

TODAY'S FREE FLY STORIES

UTX

United Technologies

$132.94

0.57 (0.43%)

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DNNGY

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SHW

Sherwin-Williams

$454.62

-1.9 (-0.42%)

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JBLU

JetBlue

$18.96

0.05 (0.26%)

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Airbus

$0.00

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TXRH

Texas Roadhouse

07:04
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Initiation
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SZEVY

Suez

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07:04
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KO

Coca-Cola

$51.25

-0.15 (-0.29%)

07:04
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Hot Stocks
Coca-Cola sees FY19 cash from operations at least $8.5B »

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ASTE

Astec

$31.16

0.38 (1.23%)

07:04
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Earnings
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JBLU

JetBlue

$18.96

0.05 (0.26%)

07:03
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Hot Stocks
JetBlue sees FY19 capacity up 5.5%-6.5% »

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  • 23

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KEY

KeyCorp

$17.37

-0.08 (-0.46%)

07:03
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Earnings
KeyCorp sees Q3 capacity up 3%-5% y/y »

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SHW

Sherwin-Williams

$454.62

-1.9 (-0.42%)

07:03
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07:03
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Earnings
Sherwin-Williams sees Q3 net sales up by single digit »

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  • 23

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KO

Coca-Cola

$51.25

-0.15 (-0.29%)

07:03
07/23/19
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07:03
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07:03
Earnings
Coca-Cola sees FY19 11%-12% growth in cc neutral operating income »

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  • 23

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JBLU

JetBlue

$18.96

0.05 (0.26%)

07:02
07/23/19
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07:02
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Earnings
JetBlue reports Q2 adjusted EPS 60c, consensus 57c »

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  • 23

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SSRM

SSR Mining

$15.80

-0.06 (-0.38%)

07:02
07/23/19
07/23
07:02
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Recommendations
SSR Mining analyst commentary  »

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  • 09

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SHW

Sherwin-Williams

$454.62

-1.9 (-0.42%)

07:02
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Earnings
Sherwin-Williams reports Q2 EPS $6.57 ex-items, consensus $6.37 »

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  • 23

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EAT

Brinker

$40.58

0.97 (2.45%)

07:01
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Initiation
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  • 13

    Nov

PNR

Pentair

$37.59

0.21 (0.56%)

07:01
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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
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Downgrade
Peak Resorts, Vail Resorts rating change  »

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SKIS

Peak Resorts

$10.85

5.71 (111.09%)

MTN

Vail Resorts

$235.48

9.665 (4.28%)

03/08/13
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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 »

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  • 23

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HOG

Harley-Davidson

$34.25

-0.62 (-1.78%)

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

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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
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Earnings
United Technologies reports Q2 adj. EPS $2.20, consensus $2.05 »

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  • 23

    Jul

DRI

Darden

$125.43

1.03 (0.83%)

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

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  • 14

    Aug

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CDOR

Condor Hospitality Trust

$10.97

2.7 (32.65%)

06:58
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Downgrade
Condor Hospitality Trust rating change  »

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CTG

Computer Task Group

$4.08

0.025 (0.62%)

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

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  • 23

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