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SHLX

Shell Midstream

$21.52

0.32 (1.51%)

05:02
07/17/19
07/17
05:02
07/17/19
05:02

Shell Midstream downgraded to Underperform from Neutral at Mizuho

Mizuho analyst Gabriel Moreen downgraded Shell Midstream Partners to Underperform from Neutral and lowered her price target for the shares to $19 from $22. While uncertainty emanating from Zydeco recontracting may be in the rear-view, investors were likely disappointed with a worse than expected outcome, Moreen tells investors in a research note. He believes the "poor showing may blunt the accretion" provided by Shell Midstream's May dropdown and pressure its distribution coverage.

SHLX Shell Midstream
$21.52

0.32 (1.51%)

06/05/19
MZHO
06/05/19
INITIATION
Target $22
MZHO
Neutral
Shell Midstream initiated with a Neutral at Mizuho
Mizuho analyst Gabriel Moreen started Shell Midstream Partners with a Neutral rating and $22 price target.
06/11/19
FBCO
06/11/19
DOWNGRADE
Target $17
FBCO
Underperform
Shell Midstream downgraded to Underperform from Neutral at Credit Suisse
Credit Suisse analyst Spiro Dounis downgraded Shell Midstream Partners to Underperform from Neutral and lowered his price target for the shares to $17 from $22.
06/11/19
06/11/19
DOWNGRADE
Target $17

Underperform
Shell Midstream downgraded to Underperform at Credit Suisse
As previously reported, Credit Suisse analyst Spiro Dounis downgraded Shell Midstream Partners to Underperform from Neutral and lowered his price target on the shares to $17 from $22 given a challenged financial outlook. The analyst notes that lower than anticipated re-contracted Zydeco pipeline rates result in a more challenged financial outlook that likely requires the Sponsor to remain accommodative. Specifically, Dounis does not believes Shell Midstream can grow the distribution meaningfully in 2020 without increasing leverage above 3.5 times or lowering coverage.
06/11/19
06/11/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Wells Fargo (WFC) downgraded to Underweight from Neutral at Atlantic Equities with analyst John Heagerty. 2. Symantec (SYMC) downgraded to Underweight from Equal Weight at Morgan Stanley with analyst Keith Weiss saying his recent survey of Chief Security Officers points to Symantec losing share in endpoint security and web security, which poses risk to its revenue growth guidance. 3. Shell Midstream (SHLX) downgraded to Underperform from Neutral at Credit Suisse with analyst Spiro Dounis noting that lower than anticipated re-contracted Zydeco pipeline rates result in a more challenged financial outlook that likely requires the Sponsor to remain accommodative. 4. Beyond Meat (BYND) downgraded to Neutral from Overweight at JPMorgan analyst Ken Goldman saying the stock at around $168 "requires assumptions we are not yet comfortable with." 5. Denny's (DENN) downgraded to Hold from Buy at Maxim with analyst Stephen Anderson saying that he remains "constructive" on the company's continued "brand rejuvenation" and refranchising program, modeling earning growth accelerating to 31% in 2020 from the projected 9% this year. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage,

TODAY'S FREE FLY STORIES

TW

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SWDAF

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SXT

Sensient

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T

AT&T

$37.82

0.03 (0.08%)

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HBO Max to stream Studio Ghibli films, Reuters says »

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OMAB

OMA

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MAR

Marriott

$120.57

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SPY

SPDR S&P 500 ETF Trust

$299.19

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$0.00

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General news
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GM

General Motors

$36.20

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T

AT&T

$37.82

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WAL

Western Alliance

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RNLSY

Renault

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Downgrade
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LOVE

Lovesac

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T

AT&T

$37.82

0.03 (0.08%)

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ATVI

Activision Blizzard

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BDN

Brandywine Realty

$14.68

0.13 (0.89%)

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BDN

Brandywine Realty

$14.68

0.13 (0.89%)

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BDN

Brandywine Realty

$14.68

0.13 (0.89%)

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Earnings
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GIL

Gildan Activewear

$35.38

0.095 (0.27%)

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Earnings
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BDN

Brandywine Realty

$14.68

0.13 (0.89%)

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Earnings
Brandywine Realty narrows FY19 FFO guidance to $1.41-$1.43 from $1.40-$1.44 

Consensus $1.42.

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  • 18

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BDN

Brandywine Realty

$14.68

0.13 (0.89%)

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Earnings
Brandywine Realty reports Q3 FFO 36c, consensus 36c »

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GIL

Gildan Activewear

$35.38

0.095 (0.27%)

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Earnings
Gildan Activewear sees Q3 adjusted EPS roughly 53c, consensus 57c »

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ISRG

Intuitive Surgical

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-1.25 (-0.24%)

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