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NJR

New Jersey Resources

$49.61

-0.29 (-0.58%)

, SJI

South Jersey Industries

$33.78

-0.425 (-1.24%)

08:22
07/11/19
07/11
08:22
07/11/19
08:22

New Jersey Resources upgraded to Neutral with $45 price target at Guggenheim

As previously reported, Guggenheim analyst Shahriar Pourreza upgraded New Jersey Resources (NJR) to Neutral from Sell citing valuation following the recent underperformance of the shares. He views the stock's current valuation as more balanced from a risk/reward perspective given the year-to-date underperformance of the stock and the company's solid outlook and "ever-increasing stability," but Pourreza still sees some better near-term value in peers such as South Jersey Industries (SJI) and NiSource (NI), he noted. He raised his price target on New Jersey Resources shares to $45 from $39, with the target increase predominately due to marking up his multiple.

NJR

New Jersey Resources

$49.61

-0.29 (-0.58%)

SJI

South Jersey Industries

$33.78

-0.425 (-1.24%)

NI

NiSource

$29.51

-0.05 (-0.17%)

NJR New Jersey Resources
$49.61

-0.29 (-0.58%)

09/10/18
09/10/18
DOWNGRADE
Target $49

Neutral
New Jersey Resources downgraded to Neutral on valuation at Guggenheim
As previously reported, Guggenheim downgraded New Jersey Resources to Neutral from Buy with a $49 price target. Analyst Shahriar Pourreza said shares have performed above expectations for some time and valuation is now difficult to justify.
07/11/19
GUGG
07/11/19
UPGRADE
GUGG
Neutral
New Jersey Resources upgraded to Neutral from Sell at Guggenheim
Guggenheim analyst Shahriar Pourreza upgraded New Jersey Resources to Neutral from Sell citing valuation following the recent underperformance of the shares.
01/07/19
GUGG
01/07/19
DOWNGRADE
Target $39
GUGG
Sell
New Jersey Resources downgraded to Sell on rich valuation at Guggenheim
As previously reported, Guggenheim downgraded New Jersey Resources to Sell from Neutral and cut its price target to $39 from $49. Analyst Shahriar Pourreza cites New Jersey's premium valuation to the gas group and lack of catalysts ahead for the rating change.
01/07/19
GUGG
01/07/19
DOWNGRADE
GUGG
Sell
New Jersey Resources downgraded to Sell from Neutral at Guggenheim
SJI South Jersey Industries
$33.78

-0.425 (-1.24%)

09/11/18
09/11/18
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Nike (NKE) upgraded to Buy from Hold at Canaccord with analyst Camilo Lyon saying he believes Nike has regained its footing and is marching back to form following two years of a soft product cycle, margin compression, and market share declines. 2. Novartis (NVS) upgraded to Buy from Neutral at Citi and to Neutral from Underperform at Exane BNP Paribas. 3. Darden (DRI) upgraded to Buy from Neutral at Goldman Sachs while Bloomin' Brands (BLMN) was upgraded to Neutral from Sell. 4. South Jersey Industries (SJI) upgraded to Overweight from Neutral at JPMorgan with analyst Christopher Turnure saying the company's "superior" growth potential is coming into focus while its shares trade at a discount to peers. 5. Snap (SNAP) upgraded to Outperform from Neutral at Wedbush with analyst Michael Pachter noting that decelerating growth trends, fierce competition for user mindshare and advertiser dollars, and a history of being hugely unprofitable have kept him on the sidelines, but recent management changes and improved execution have led him to update his outlook. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/30/18
WELS
10/30/18
INITIATION
Target $31
WELS
Market Perform
South Jersey Industries resumed with a Market Perform at Wells Fargo
Wells Fargo analyst Sarah Akers resumed coverage of South Jersey Industries with a Market Perform rating and $31 price target. The analyst is attracted to its significant gas infrastructure growth opportunities, supportive New Jersey regulatory principles, and improving business mix. Her enthusiasm is tempered, however, by the meaningful leverage taken on to finance the Elizabethtown/Elkton acquisition, along with the remaining unregulated exposure and execution risk on major projects and regulatory initiatives.
06/13/19
GUGG
06/13/19
UPGRADE
Target $35
GUGG
Buy
South Jersey Industries upgraded to Buy from Neutral at Guggenheim
Guggenheim analyst Shahriar Pourreza upgraded South Jersey Industries to Buy from Neutral and raised the price target on the stock to $35 from $32.
04/17/19
MAXM
04/17/19
INITIATION
Target $40
MAXM
Buy
South Jersey Industries initiated with a Buy at Maxim
Maxim analyst Tate Sullivan initiated South Jersey Industries with a Buy rating and a price target of $40, saying the company has "various opportunities to invest in natural gas infrastructure" in New Jersey while it also continues to build a new interstate natural gas pipeline from Pennsylvania. The analyst believes that South Jersey Industries can grow its dividend by 3% per year through 2022, having already "completed multiple actions in the last two years to improve its ability to benefit from long-term growth in natural gas consumption."
NI NiSource
$29.51

-0.05 (-0.17%)

04/08/19
GSCO
04/08/19
UPGRADE
Target $29
GSCO
Buy
NiSource upgraded to Buy from Neutral at Goldman Sachs
Goldman Sachs analyst Insoo Kim upgraded NiSource to Buy from Neutral and raised his price target for the shares to $29 from $26.
04/22/19
BOFA
04/22/19
DOWNGRADE
BOFA
Neutral
NiSource downgraded to Neutral from Buy at BofA/Merrill
06/18/19
GSCO
06/18/19
NO CHANGE
Target $29
GSCO
Buy
NiSource sale of gas unit could bring multiple expansion, says Goldman Sachs
Goldman Sachs analyst Insoo Kim ran a scenario analysis after Bloomberg reported on the potential sale of NiSource's Columbia Gas of Massachusetts unit. The analysis suggests NiSource could receive $1.15B-$1.80B in cash for the assets, assuming the company remains liable for third party claims and other expenses related to the Massachusetts incident, Kim tells investors in a research note. The analyst estimates 1c-7c of earnings per share accretion to his 2021 estimates if NiSource were to use potential asset sale proceeds to offset financing needs related to the incident. Further, Kim thinks multiple expansion potential exists for the company as well. He keeps a Buy rating on NiSource with a $29 price target.
04/08/19
GSCO
04/08/19
NO CHANGE
GSCO
Goldman Sachs more cautious on Utilities due to 'stretched valuations'
Goldman Sachs analysts Michael Lapides and Insoo Kim are more cautious on Americas Utilities due to "stretched valuations" across the utility sector. The analysts now see negative 2% total return across their utilities coverage. Following the Utilities SPDR (XLU) ~11% outperformance versus the S&P 500 since the start of Q4 2018, the group now trades at a 20% premium to the market, Lapides and Kim tells investors in a research note. The analysts removed NextEra Energy (NEE) from their firm's Conviction List but remain Buy-rated, upgraded NiSource (NI) to Buy from Neutral on less uncertainty regarding the Greater Lawrence incident, upgraded OGE Energy (OGE) to Neutral from Sell on valuation, downgraded WEC Energy (WEC) to Sell from Neutral, upgraded Avangrid (AGR) to Neutral from Sell, and downgraded American Electric Power (AEP) to Neutral from Buy.

TODAY'S FREE FLY STORIES

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CMG

Chipotle

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BYND

Beyond Meat

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6.28 (3.69%)

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NFLX

Netflix

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AMZN

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, TGT

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AMZN

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AMZN

Amazon.com

$1,964.78

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MSFT

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ORCL

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AZN

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BMY

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LLY

Eli Lilly

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GSK

GlaxoSmithKline

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JNJ

Johnson & Johnson

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MRK

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NVS

Novartis

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PFE

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RHHBY

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(0.00%)

SNY

Sanofi

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BHVN

Biohaven Pharmaceutical

$44.16

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CE

Celanese

$107.01

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F

Ford

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RTN

Raytheon

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UTX

United Technologies

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LMT

Lockheed Martin

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  • 23

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ARES

Ares Management

$28.13

-0.305 (-1.07%)

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HAFC

Hanmi Financial

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  • 23

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PAYS

Paysign

$17.49

-0.48 (-2.67%)

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MEOH

Methanex

$43.19

0.83 (1.96%)

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  • 01

    Aug

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Conference/Events
Credit Suisse biotech analysts to hold an analyst/industry conference call »

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SHIP

Seanergy Marine

$0.64

-0.0425 (-6.25%)

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SONM

Sonim

$13.42

0.24 (1.82%)

16:41
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07/19
16:41
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Sonim management to meet with Oppenheimer »

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KINS

Kingstone Companies

$8.81

0.09 (1.03%)

16:30
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Kingstone names Barry Goldstein CEO »

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  • 07

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16:30
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Options
Preliminary option volume of 22.6M today »

Preliminary option volume…

BA

Boeing

$377.34

16.17 (4.48%)

, MSFT

Microsoft

$136.62

0.33 (0.24%)

16:24
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07/19
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16:24
On The Fly
Fly Intel: Wall Street's top stories for Friday »

Stocks were tentatively…

BA

Boeing

$377.34

16.17 (4.48%)

MSFT

Microsoft

$136.62

0.33 (0.24%)

AMZN

Amazon.com

$1,964.78

-13.57 (-0.69%)

AAPL

Apple

$202.62

-3.02 (-1.47%)

WMT

Walmart

$113.91

-0.77 (-0.67%)

DIS

Disney

$139.86

-1.76 (-1.24%)

GCI

Gannett

$9.43

1.53 (19.37%)

CRWD

Crowdstrike

$83.50

10.75 (14.78%)

SKX

Skechers

$39.00

4.25 (12.23%)

PACB

Pacific Biosciences

$5.34

-0.53 (-9.03%)

ILMN

Illumina

$293.10

-5.44 (-1.82%)

CHWY

Chewy

$30.70

-2.09 (-6.37%)

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