Breaking News Instant updates and real-time market news.

EMR

Emerson

$64.85

-0.36 (-0.55%)

, HON

Honeywell

$171.44

-0.74 (-0.43%)

09:55
09/12/19
09/12
09:55
09/12/19
09:55

Morgan Stanley to hold a conference

7th Annual Laguna Conference will be held on September 11-13 in Dana Point, CA with webcasted company presentations to begin on September 12 at 10 am; not all company presentations may be webcasted. Webcast Link

EMR

Emerson

$64.85

-0.36 (-0.55%)

HON

Honeywell

$171.44

-0.74 (-0.43%)

RTN

Raytheon

$193.38

0.16 (0.08%)

WERN

Werner

$34.84

-0.46 (-1.30%)

AXL

American Axle

$8.29

-0.29 (-3.38%)

LEA

Lear

$123.63

-2.77 (-2.19%)

UAL

United Airlines

$89.21

0.89 (1.01%)

WBT

Welbilt

$16.82

-0.18 (-1.06%)

RBC

Regal Beloit

$77.64

-0.51 (-0.65%)

ROK

Rockwell Automation

$164.63

0.83 (0.51%)

IR

Ingersoll-Rand

$123.69

0.18 (0.15%)

FLOW

SPX FLOW

$41.05

-1.02 (-2.42%)

HUBB

Hubbell

$136.88

(0.00%)

UTX

United Technologies

$136.67

-0.08 (-0.06%)

GE

General Electric

$9.38

-0.02 (-0.21%)

NVT

nVent Electric

$22.95

-0.01 (-0.04%)

KNX

Knight-Swift

$37.11

-0.65 (-1.72%)

HRI

Herc Holdings

$46.43

0.35 (0.76%)

BAH

Booz Allen

$70.44

0.44 (0.63%)

VNE

Veoneer

$17.90

-0.14 (-0.78%)

PAG

Penske Automotive

$48.30

-0.06 (-0.12%)

SAVE

Spirit Airlines

$38.75

(0.00%)

FCX

Freeport McMoRan

$10.22

0.14 (1.39%)

GTX

Garrett Motion

$10.93

-0.53 (-4.62%)

ALLE

Allegion

$100.19

0.28 (0.28%)

  • 12

    Sep

  • 17

    Sep

  • 17

    Sep

  • 18

    Sep

  • 23

    Sep

  • 28

    Sep

  • 11

    Oct

  • 11

    Oct

  • 27

    Oct

  • 30

    Oct

  • 05

    Nov

  • 05

    Nov

  • 13

    Nov

EMR Emerson
$64.85

-0.36 (-0.55%)

08/05/19
SPHN
08/05/19
NO CHANGE
Target $71
SPHN
Overweight
Emerson a good value after 'unwarranted' pullback, says Stephens
Stephens analyst Rob McCarthy said the pullback in Emerson shares due to tariff and global macro concerns is "not surprising optically" given the company's leverage to China and oil, but he also thinks it is "unwarranted" given Emerson's strong long cycle backlog on LNG and process automation. He sees good value in the stock ahead of the company's Q3 earnings report, noting that the stock is currently trading below the valuation of the last three years and stating that he sees the stock trading at a value closer to historical levels with any confirmation of the company's GAAP EPS guidance for FY19. McCarthy keeps an Overweight rating and $71 price target on Emerson shares.
07/29/19
DBAB
07/29/19
NO CHANGE
DBAB
Emerson likely to cut full year guidance, says Deutsche Bank
Deutsche Bank analyst Nicole Deblase noted that Emerson disclosed that total company underlying order growth decelerated to 2% year-over-year for the three months ended in June from 4% growth in the May-end period, with deterioration coming across both business segments. The analyst, who had expressed an incrementally more bearish view on Emerson into the company's earnings release, said this morning's order data is consistent with her thinking and with commentary provided by peers. Deblase, who noted that management did not provide a revised FY19 EPS outlook, believes the company is likely to cut full year guidance with its upcoming report.
08/13/19
ARGS
08/13/19
DOWNGRADE
ARGS
Hold
Emerson downgraded to Hold from Buy at Argus
08/13/19
08/13/19
DOWNGRADE

Hold
Emerson downgraded to Hold from Buy at Argus
As previously reported, Argus analyst John Eade downgraded Emerson to Hold after its recent disappointing Q3 results, with earnings rising at a slower pace relative to prior quarters orders tracking weak. The analyst also points to the stock underperforming over the past quarter while trading in a bearish pattern of lower highs and lower lows that dates to October 2018. Ease still expects Emerson to generate high single-digit earnings and 3-4% revenue growth with margin improvement over the longer term, but sees its near-term trends challenged by slower sales and compressing margins from acquisition integration and tariffs.
HON Honeywell
$171.44

-0.74 (-0.43%)

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.
07/16/19
GSCO
07/16/19
NO CHANGE
GSCO
Goldman does not see favorable setup for Americas Multi-Industry into Q2
Goldman Sachs analyst Joe Ritchie does not see the setup as favorable for the Americas Multi-Industry sector into the Q2 reporting season with the exception of Buy-rated Honeywell (HON). The analyst says fiscal 2020 consensus expectations are too high for a third of the companies he covers while the setup is tough for the second half of 2019 as comps are only easier for five out of 27 stocks "at a time when growth is decelerating." As a result, Ritchie downgraded three cyclical stocks to Sell, namely Cognex (CGNX) and Parker-Hannifin (PH) from Neutral and Kennametal (KMT) double downgraded from Buy. He also upgraded Timken to Buy from Neutral as he believes expectations are more appropriately calibrated and its relative valuation is "compelling."
07/19/19
JEFF
07/19/19
NO CHANGE
Target $195
JEFF
Buy
Honeywell price target raised to $195 from $190 at Jefferies
Jefferies analyst Sheila Kahyaoglu raised her price target for Honeywell to $195 from $190 saying the company delivered 5% organic growth in Q2 with segment profit expanding 9% organically. The analyst raised her out-year estimates on better profitability within Aerospace and keeps a Buy rating on the shares.
07/22/19
ARGS
07/22/19
NO CHANGE
Target $195
ARGS
Buy
Momentum of Honeywell's stock price and earnings to continue, says Argus
Argus analyst John Eade keeps his Buy rating and $195 price target on Honeywell, saying that while the stock has already outperformed the S&P 500 with a 23% run over the past year, he expects that momentum to continue as the company generates low double-digit earnings growth over the next 5 years. The analyst believes that Honeywell stands to benefit from its diverse product lines, its strong presence in the commercial aerospace and commercial construction markets, as well as its "mid-market" product presence in China that is growing in spite of the country's infrastructure slowdown.
RTN Raytheon
$193.38

0.16 (0.08%)

06/24/19
06/24/19
UPGRADE

Outperform
United Technologies upgraded to Outperform from Market Perform at Cowen
As previously reported, Cowen analyst Cai von Rumohr upgraded United Technologies (UTX) to Outperform from Market Perform following the selloff in the shares after the Raytheon (RTN) merger announcement. The analyst raised his price target on United Technologies shares to $150 from $135. The analyst was positive on the "attractive" proposed Raytheon merger, seeing synergies in hypersonics, directed energy, ISR, cyber protection for connected aircraft, and air traffic control. The analyst also liked United Technologies for the "extended Aerospace cash ramp," as they see a likely multiyear margin/cash flow ramp in that space.
06/24/19
06/24/19
DOWNGRADE

Neutral
Raytheon downgraded to Neutral from Buy at Buckingham
As previously reported, Buckingham analyst Richard Safran downgraded Raytheon (RTN) to Neutral from Buy and lowered his price target on the shares to $195 from $265. The analyst said that initially he was neutral on the deal with United Technologies (UTX), which Buckingham does not cover, but now believes it is a solid deal for United Technologies that "possibly undervalues" Raytheon. Safran added that until the deal is either completed or denied by the Pentagon, Raytheon shares will now be tied to United Technologies.
08/20/19
BOFA
08/20/19
NO CHANGE
BOFA
Raytheon added to US 1 List at BofA/Merrill
09/09/19
BARD
09/09/19
NO CHANGE
Target $223
BARD
Outperform
Raytheon raised to Fresh Pick at Baird
Baird analyst Peter Arment raised Raytheon to Fresh Pick based on its steep valuation to peers and the potential for 30-40% upside from current levels. Arment has an Outperform rating and $223 price target on Raytheon shares.
WERN Werner
$34.84

-0.46 (-1.30%)

09/10/19
KEYB
09/10/19
UPGRADE
Target $25
KEYB
Overweight
Heartland Express upgraded to Overweight from Sector Weight at KeyBanc
KeyBanc analyst Todd Fowler last night upgraded both Heartland Express (HTLD) and Marten Transport (MRTN) while reiterating Overweight ratings on Knight-Swift Transportation (KNX) and Werner (WERN). The analyst has increased conviction in stabilizing truckload dynamics on more seasonal trends and reduced incremental supply. His channel checks indicate lower demand and available capacity Q3-to-date, which he notes is largely in line with expectations. However, pricing outlooks have stabilized, Fowler tells investors in a research note. He has a $25 price target on Heartland Express.
09/03/19
SBSH
09/03/19
UPGRADE
Target $40
SBSH
Buy
Werner upgraded to Buy from Neutral at Citi
Citi analyst Christian Wetherbee upgraded Werner (WERN) to Buy from Neutral and raised his price target for the shares to $40 from $32. The analyst says he's becoming more constructive on the s full truckload sector saying fundamentals are bottoming after a disappointing year of volume and pricing declines. Within transportation, the truckload sector is earliest in the cycle to work with shares typically outperforming as the second derivative in freight volume and pricing turns positive and estimates are cut, Wetherbee tells investors in a research note. The analyst adds that his data suggest trends are stabilizing as opposed to worsening. Wetherbee this morning also upgraded Schneider National (SNDR) to Buy from Neutral and kept a Buy rating on Knight-Swift Transportation (KNX).
07/11/19
FBCO
07/11/19
DOWNGRADE
FBCO
Underperform
Werner downgraded to Underperform from Neutral at Credit Suisse
Credit Suisse analyst Allison Landry downgraded Werner to Underperform from Neutral saying that with a weakening demand backdrop, contract TL rates that are turning negative, and anecdotal evidence that suggests capacity remains relatively loose, she sees fairly meaningful risk to the second half of 2019 and 2020 EPS for the asset based truckers.
07/11/19
07/11/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Parker-Hannifin (PH) downgraded to Market Perform from Outperform at Wells Fargo with analyst Andrew Casey saying future potential appears to be increasingly complicated by ongoing end market growth deceleration in the U.S. 2. Allstate (ALL) downgraded to Underperform from Neutral at Credit Suisse with analyst Michael Zaremski calling it the insurer most levered to homeowners' insurance at a time when record levels of precipitation in the U.S. raises the probability of worse than expected "non-catastrophe" claims volumes in the homeowners' line of business. 3. Alcoa (AA) downgraded to Hold from Buy at Deutsche Bank with analyst Chris Terry saying he previously thought Alcoa's legacy liabilities from pension and debt would reduce, the aluminum chain pricing will improve, and that its free cash flow would increase. However, he no longer sees this playing out in the near term. 4. Werner (WERN) downgraded to Underperform from Neutral at Credit Suisse with analyst Allison Landry saying that with a weakening demand backdrop, contract TL rates that are turning negative, and anecdotal evidence that suggests capacity remains relatively loose, she sees fairly meaningful risk to the second half of 2019 and 2020 EPS for the asset based truckers. 5. Hamilton Lane (HLNE) downgraded to Underperform from Market Perform at Keefe Bruyette with analyst Robert Lee citing valuation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
AXL American Axle
$8.29

-0.29 (-3.38%)

09/05/19
LEHM
09/05/19
NO CHANGE
LEHM
LBOs could provide floor in auto parts valuations, says Barclays
The Magnetti Marelli and Tower deals this year seem to belie common wisdom that it's too late in the cycle for "take private" transactions in the auto parts space, Barclays analyst Brian Johnson tells investors in a research note. Late cycle auto parts deal history is "less bad then investors think," says the analyst. He believes leverage buyouts "could provide a floor to valuations" in the sector. Of the four companies he screened, American Axle (AXL), Delphi Technologies (DLPH), Garrett Motion (GTX) and Adient (ADNT), the analyst says American Axle is the most promising leverage buyout candidate. American Axle may be the best all-around candidate for a take-private transaction, largely due to its strong cash flow generation, says Johnson.
09/03/19
FBCO
09/03/19
NO CHANGE
FBCO
Risk-on trade could benefit autos, says Credit Suisse
Credit Suisse analyst Dan Levy notes that with a tough August in the books, the challenged performance for auto stocks has been more a function of a challenged macro backdrop rather than any changes in auto industry fundamentals. In an environment where quality has been bid and deep cyclicals are out of favor, autos have not fared well, he contends. To the extent positive macro and a risk-on trade emerges, the analyst believes auto stocks could benefit - especially those which have been highly out of favor like American Axle (AXL), Dana (DAN), Delphi Technologies (DLPH). Yet beyond a potential near-term recovery, he believes auto stocks still must confront uncertainty around 2020.
06/26/19
FBCO
06/26/19
INITIATION
Target $15
FBCO
Outperform
American Axle initiated with an Outperform at Credit Suisse
Credit Suisse initiated American Axle with an Outperform and $15 price target.
06/27/19
06/27/19
INITIATION
Target $15

Outperform
Credit Suisse bullish on American Axle, initiates with an Outperform
As previously reported, Credit Suisse analyst Dan Levy initiated American Axle with an Outperform rating and $15 price target. With one of the most inexpensive valuation multiples among auto stocks, the backdrop for the stock is one of "poor sentiment," he notes. Yet, the analyst sees reasons to be positive on American Axle stock, namely a positive inflection in data points in the second half of 2019, "solid and underappreciated" free cash flow generation, and its progress in an EV world.
LEA Lear
$123.63

-2.77 (-2.19%)

09/12/19
UBSW
09/12/19
DOWNGRADE
UBSW
Neutral
Visteon, Adient, Lear downgraded at UBS on rising recession risk
UBS analyst Colin Langan downgraded Adient (ADNT) and Lear (LEA) to Neutral from Buy and Visteon (VC) to Sells from Neutral as part of a broader sector research note. The analyst says he was previously bullish on the group in hopes of easing trade tensions, which are "not looking good now", and the prospects of a China recovery, which looks "even worse". In addition to these factors, the industry has faced negative news around "surprising margin weakness", risks of increased price concessions, and rising recession possibility. Langan notes that despite these headwinds, U.S. auto suppliers are still up 25% year-to-date even though the average 2019 earnings estimates on the group are down 22%. As part of the downgrade, the analyst cut his Adient price target to $27 from $30, Lear to $135 from $158, and Visteon to $61 from $66.
07/17/19
SBSH
07/17/19
DOWNGRADE
Target $144
SBSH
Neutral
Lear downgraded to Neutral from Buy at Citi
Citi analyst Itay Michaeli downgraded Lear (LEA) to Neutral from Buy and lowered his price target on the stock to $144 from $188 following the company's 2019 guidance cut, which he contends "might not be fully explained by macro alone." Given the double-digit percentage cut to Lear's FY19 net income outlook, the reaction in the stock today "appears rather mild," said the analsyt, who added that the guidance cut suggests to him a worsening of some of the E-Systems revenue issues he'd previously called out. On the surface, the news appears to have a negative-read for suppliers with heavy exposure in Europe and China - such as Visteon (VC), Autoliv (ALV), Veoneer (VNE), BorgWarner (BWA) and Aptiv (APTV) - but Michaeli reiterated that he thinks there are also company-specific factors in play.
07/29/19
FBCO
07/29/19
NO CHANGE
Target $130
FBCO
Neutral
Lear price target lowered to $130 from $155 at Credit Suisse
Credit Suisse analyst Dan Levy lowered his price target for Lear to $130 from $155 saying that e-systems challenges are "emblematic of pivot from Lear 1.0 to Lear 2.0." The analyst reiterates a Neutral rating on the shares.
09/12/19
UBSW
09/12/19
DOWNGRADE
UBSW
Neutral
Lear downgraded to Neutral from Buy at UBS
UAL United Airlines
$89.21

0.89 (1.01%)

07/24/19
07/24/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Cott Corp. (COT) upgraded to Buy from Neutral at Goldman Sachs with analyst Judy Hong saying the stock has underperformed relative to its peers with no significant catalysts, and the weakness more than accounts for the potential FX headwinds. 2. Celanese (CE) upgraded to Overweight from Neutral at JPMorgan with analyst Jeffrey Zekauskas saying the company's operating performance has proven to be "surprisingly durable." 3. Medical Properties Trust (MPW) upgraded to Buy from Hold at Stifel with analyst Chad Vanacore saying the company has a "long runway for above-average growth" given a "strong" pipeline of acquisition targets, a diversifying asset base, and the "attractive" macro environment. 4. United Continental (UAL) upgraded to In-Line from Underperform at Imperial Capital with analyst Michael Derchin saying current valuations fairly reflect the company's recent strong performance and future outlook. 5. Snap (SNAP) upgraded to Buy from Hold at Summit Insights and to Neutral from Sell at UBS. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/29/19
MACQ
07/29/19
DOWNGRADE
MACQ
Neutral
Macquarie warns about pricing pressure among airlines from Southwest competition
Macquarie analyst Susan Donofrio downgraded American Airlines (AAL), Spirit Airlines (SAVE), Hawaiian Holdings (HA), and Alaska Air (ALK) to Neutral from Outperform as part of a broader industry note, saying the competitive environment for these airlines should become "choppy" in the fall of 2019 and in 2020 as Southwest (LUV) attempts to win back market share. The analyst believes that the latter's sizable domestic scope should lead to "unit revenue softness" within the overall pricing structure, through she maintains an Outperform rating on United Airlines (UAL), Delta (DAL) and Allegiant (ALGT) given their ongoing revenue initiatives and minimal overlap with Southwest.
09/06/19
BREN
09/06/19
INITIATION
BREN
Berenberg says big 4 airlines can generate cash, prefers American and Delta
As previously reported, Berenberg analyst Adrian Yanoshik initiated coverage of the four largest U.S. airlines, starting American Airlines (AAL) with a Buy rating and $35 price target, Delta Air Lines (DAL) with a Buy rating and $72 price target, United Continental (UAL) with a Hold rating and $95 price target and Southwest Airlines (LUV) with a Hold rating and $57 price target. Amid market worries over both capacity growth and demand weakness, his work suggests that U.S. airlines can generate free cash flow in "all scenarios but a 9/11-scale shock," Yanoshik tells investors. He thinks airline sector valuations reflect fears, but overlook broadly stable, albeit two-tiered, returns. He would buy American with valuation at multi-year lows as he estimates that American will narrow its margin gap to peers and thinks it debt burden is misunderstood. He would also buy Delta, which Yanoshik calls "arguably the highest-quality airline."
09/06/19
BREN
09/06/19
INITIATION
Target $95
BREN
Hold
United Continental initiated with a Hold at Berenberg
Berenberg started United Continental with a Hold rating and $95 price target.
WBT Welbilt
$16.82

-0.18 (-1.06%)

01/11/19
WBLR
01/11/19
NO CHANGE
WBLR
Outperform
Welbilt shares can reach upper teens, says William Blair
While the senior management changes provided some uncertainty, shares of Welbilt are inexpensive and offer "some of the best upside potential in our group," William Blair analyst Lawrence De Maria tells investors in a research note. He believes the stock can reach the upper teens "even with a compressed multiple." The government shutdown also provides some economic risk but emergency funds will keep food inspections ongoing, says De Maria. He keeps an Outperform rating on Welbilt.
07/10/19
SBSH
07/10/19
UPGRADE
Target $19
SBSH
Buy
Welbilt upgraded to Buy from Neutral at Citi
Citi analyst Timothy Thein upgraded Welbilt (WBT) to Buy from Neutral and raised his price target for the shares to $19 from $17. Checks with foodservice equipment contacts indicate that "solid" consumer trends and "ample" credit availability are helping to give operators the confidence to invest in the kitchen, Thein tells investors in a research note. Further, the analyst believes pricing discipline seems to be holding, supporting his expectation for margin improvement for Middleby (MIDD) and Welbilt in to 2020. He thinks the market will reward names like Welbilt that have "visible growth." Thein keeps a Neutral rating on Middleby.
RBC Regal Beloit
$77.64

-0.51 (-0.65%)

01/08/19
WOLF
01/08/19
DOWNGRADE
WOLF
Peer Perform
Regal Beloit downgraded to Peer Perform from Outperform at Wolfe Research
01/08/19
OPCO
01/08/19
DOWNGRADE
OPCO
Perform
Regal Beloit downgraded to Perform from Outperform at Oppenheimer
As previously reported, Oppenheimer analyst Christopher Glynn downgraded Regal Beloit to Perform from Outperform due to relative devaluation of the group as material context for low headline multiples, against his view that the portfolios lack cyclical or strategic differentiation against the current backdrop. The analyst says he will keep a "watchful eye" on simplification benefits, but margin improvement at C&I has been slow, absorbing supply chain challenges, then inflation, while now, short-cycle macro trends could limit further organic growth. Glynn believes Regal Beloit organic typically concentrates in early cycle recovery, which tailwinds may be more mature than ahead
02/06/19
WELS
02/06/19
NO CHANGE
Target $85
WELS
Market Perform
Regal Beloit price target raised to $85 from $75 at Wells Fargo
Wells Fargo analyst Allison Poliniak-Cusic raised her price target for Regal Beloit to $85 from $75 following quarterly results. The analyst reiterates a Market Perform rating on the shares.
11/07/18
BMOC
11/07/18
NO CHANGE
Target $83
BMOC
Market Perform
Regal Beloit price target lowered to $83 from $93 at BMO Capital
BMO Capital analyst R. Scott Graham lowered his price target on Regal Beloit to $83 and kept his Market Perform rating after its Q3 results, saying that while its earnings topped consensus and organic sales grew 5%, the company's international sales slowed. The analyst further notes that he expects Regal Beloit's earnings trends to remain positive, but he also sees them as "largely discounted in the valuation", adding that the company will have to "improve its below-peer margin" to lift its valuation.
ROK Rockwell Automation
$164.63

0.83 (0.51%)

05/29/19
05/29/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Flex (FLEX) upgraded to Overweight from Neutral at JPMorgan with analyst Paul Coster citing valuation. 2. Allstate (ALL) and Hartford Financial (HIG) were upgraded to Buy from Neutral at Goldman Sachs. 3. Rockwell Automation (ROK) upgraded to Buy from Hold at Gabelli with analyst Justin Bergner saying the negative investor sentiment stemming from "skepticism" of its software partnership strategy and the decline in the relevance of its programmable logic controller is unwarranted. 4. Falcon Minerals (FLMN) upgraded to Buy from Hold at Stifel with analyst Timothy Howard saying Falcon shares have underperformed over the last 30 days, falling 17% compared to peers down 6% and crude oil prices down 7%. 5. YY (YY) upgraded to Buy from Neutral at Nomura Instinet with t analyst Jialong Shi saying the risk/reward is more favorable with the stock down 27% from its recent peak. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/22/19
CLVD
07/22/19
NO CHANGE
CLVD
Rockwell Automation Q3 estimates lowered at Cleveland Research
Cleveland Research analyst Matthew McCann lowered his Q3 earnings estimate for Rockwell Automation on a lower sales and margin assumption following his North American discrete automation survey. The survey highlighted competitive pressure, particularly from Siemens, becoming a growth headwind for the first time, added McCann, who has a Neutral rating on Rockwell shares.
09/11/19
GDHS
09/11/19
DOWNGRADE
GDHS
Hold
Rockwell Automation downgraded to Hold from Buy at Gordon Haskett
07/19/19
JPMS
07/19/19
NO CHANGE
Target $154
JPMS
Neutral
JPMorgan's Tusa says too early to call a bottom in Rockwell Automation
Ongoing macro uncertainty coupled with an analysis around cycle timing suggests it's "simply too early" to play a bottom in cyclicals, of which Rockwell Automation is the bellwether, JPMorgan analyst Stephen Tusa tells investors in a research note. While Rockwell's multiple "may be somewhat close to a bottom," significant estimate cuts, as well as some visibility around how a rebound in growth would play out, needs to be seen before the stock can outperform, contends the analyst. He lowered his price target for the shares to $154 from $159 and keeps a Neutral rating on Rockwell.
IR Ingersoll-Rand
$123.69

0.18 (0.15%)

05/07/19
UBSW
05/07/19
DOWNGRADE
Target $38
UBSW
Neutral
UBS downgrades Gardner Denver to Neutral, says shares due for 'breather'
UBS analyst Damian Karas downgraded Gardner Denver to Neutral from Buy while raising his price target for the shares to $38 from $31. The shares are due for a "breather" following the recent run as benefits from the Ingersoll-Rand (IR) deal are now largely priced in, Karas tells investors in a research note.
07/02/19
JEFF
07/02/19
DOWNGRADE
Target $140
JEFF
Hold
Ingersoll-Rand downgraded to Hold from Buy at Jefferies
Jefferies analyst Stephen Volkmann downgraded Ingersoll-Rand to Hold from Buy with an unchanged price target of $140. The analyst sees limited share appreciation potential in the near-term.
07/08/19
JPMS
07/08/19
DOWNGRADE
Target $231
JPMS
Underweight
JPMorgan's Tusa downgrades Lennox to Underweight with $231 price target
JPMorgan analyst Stephen Tusa downgraded Lennox International (LII) to Underweight from Neutral with an unchanged price target of $231. The analyst this morning also upgraded Johnson Controls (JCI) to Neutral from Underweight. Lennox's standing premium to implied HVAC multiples "at soon to be pure play peers seems overdone," Tusa tells investors in a research note. The analyst believes the emergence of two new pure plays, "seemingly currently trading at ~30% discounts," dilutes Lennox's scarcity value. Tusa's price target implies 20% downside versus his Overweight-rated HVAC related names, Ingersoll-Rand (IR) and United Technologies (UTX).
07/02/19
JEFF
07/02/19
DOWNGRADE
Target $140
JEFF
Hold
Jefferies downgrades Ingersoll-Rand to Hold on limited upside potential
Jefferies analyst Stephen Volkmann downgraded Ingersoll-Rand to Hold from Buy with an unchanged price target of $140. The analyst sees little upside to earnings estimates or the "premium multiple" attached to his price target. Consensus forecasts already bake in mid-single digit sales growth, Volkmann tells investors in a research note. He believes Ingersoll-Rand shares offer limited near-term appreciation potential.
FLOW SPX FLOW
$41.05

-1.02 (-2.42%)

08/13/19
08/13/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Pampa Energia (PAM) downgraded to Equal Weight from Overweight at Morgan Stanley and to Neutral from Buy at BofA/Merrill. 2. NextEra Energy (NEE) and Xcel Energy (XEL) downgraded to Equal Weight from Overweight at Barclays. 3. Seadrill (SDRL) downgraded to Neutral from Buy at BTIG with analyst Gregory Lewis saying the company emerged from bankruptcy with too much debt, and its options to increase liquidity are costlier today than they were last year owing to increasing concerns about the pace of the recovery of offshore drilling. 4. Occidental downgraded to Underweight from Neutral at JPMorgan with analyst Phil Gresh reinstated coverage of Occidental Petroleum following a period of restriction and downgraded the shares to Underweight from Neutral, saying despite the 33% stock price decline since before the Anadarko deal was announced, Occidental's total return potential of 15% is roughly half that of the peer group. 5. SPX Flow (FLOW) downgraded to Neutral from Buy at Seaport Global with analyst Walt Liptak saying he believes that the company will be impacted by sector slowing in its Food & Beverage and Industrial segments. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/13/19
GHSC
08/13/19
DOWNGRADE
GHSC
Neutral
SPX FLOW downgraded to Neutral on slowing end markets at Seaport Global
As previously reported, Seaport Global analyst Walt Liptak downgraded SPX FLOW to Neutral from Buy as he believes that the company will be impacted by sector slowing in its Food & Beverage and Industrial segments. In Q2, weak end markets continued to persist and he expects to see similar or worse than organic growth rates in the second half, Liptak tells investors. Additionally, SPX FLOW plans to divest a majority of the Power and Energy segment, but "timing is not on FLOW's side," said the analyst, who thinks the amount that the company can fetch for a business is expected to be lower than the average given the current environment for M&A valuations.
08/13/19
GHSC
08/13/19
DOWNGRADE
GHSC
Neutral
SPX FLOW downgraded to Neutral from Buy at Seaport Global
05/21/19
STFL
05/21/19
NO CHANGE
Target $103
STFL
Buy
Crane's Circor offer represents good value for shareholders, says Stifel
Stifel analyst Nathan Jones says Crane's (CR) $45 per share offer for Circor (CIR) represents "good value" for Crane shareholders, particularly given Crane management's track record for generating above-target synergies and smooth integrations. Jones, who has a Buy rating and $103 price target on Crane, thinks there could potentially be one or two competing bidders with ITT (ITT) making the most sense to him, but also named Flowserve (FLS) and SPX Flow (FLOW) as companies that may be interested in Circor.
HUBB Hubbell
$136.88

(0.00%)

08/21/19
08/21/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Clearfield (CLFD) initiated with a Buy at Roth Capital. 2. Wanda Sports (WSG) initiated with a Buy at Citi and Deutsche Bank as well as an Overweight at Morgan Stanley. 3. INmune Bio (INMB) initiated with a Buy at H.C. Wainwright. 4. CoreLogic (CLGX) initiated with an Overweight at Barclays. 5. Hubbell (HUBB) initiated with a Buy at Gabelli. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
08/21/19
GABE
08/21/19
INITIATION
GABE
Buy
Hubbell initiated with a Buy at Gabelli
Gabelli analyst Justin Bergner initiated Hubbell with a Buy rating.
07/08/19
SPHN
07/08/19
INITIATION
Target $140
SPHN
Overweight
Hubbell initiated with an Overweight at Stephens
Stephens analyst Rob McCarthy started Hubbell with an Overweight rating and $140 price target. The analyst views Hubbell as an attractively valued cyclical with "solid" exposure to mid-to-late cycle end markets. Further, he sees "solid" incremental margin expansion potential aided by the company's continuing footprint consolidation plan.
04/02/19
JMPS
04/02/19
NO CHANGE
Target $146
JMPS
Outperform
Hubbell spin off of lighting business would be good idea, says JMP Securities
JMP Securities analyst Joseph Osha noted that GE Current has been sold, Cree's (CREE) lighting equipment business has been sold and Eaton (ETN) has announced the planned spinoff of its lighting business during the past six months, all of which "begs an interesting question" about Hubbell's (HUBB) plans for its own lighting business. While Osha doesn't think the division is as dilutive to Hubbell's overall business as either Cree or GE Current was, he also doesn't believe it is as profitable as Acuity Brands (AYI). Hubbell has found managing the volatile lighting business to be a challenge and Osha said he thinks spinning it off "would be a good idea." He reiterates an Outperform rating and $146 price target on Hubbell shares.
UTX United Technologies
$136.67

-0.08 (-0.06%)

06/24/19
06/24/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. United Technologies (UTX) upgraded to Outperform from Market Perform at Cowen with analyst Cai von Rumohr citing the selloff in the shares after the Raytheon (RTN) merger announcement. 2. Deere (DE) and Agco (AGCO) upgraded to Buy from Hold at Jefferies. 3. Rent-A-Center (RCII) upgraded to Equal Weight from Underweight at Stephens with analyst Vincent Caintic citing what he sees as "massive potential" for third-party retailer Rent-To-Own, telling investors that he wouldn't want to be short any Rent-To-Own stock he covers as a result. 4. Hostess Brands (TWNK) upgraded to Buy from Neutral at UBS with Steven Strycula citing three catalysts he sees. 5. Dunkin' Brands (DNKN) upgraded to Outperform from Neutral at Wedbush with analyst Nick Steyan saying he believes Dunkin' U.S. is currently undergoing an inflection in same-store sales growth that is underappreciated by the Street. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/09/19
BARD
09/09/19
NO CHANGE
Target $149
BARD
Outperform
United Technologies elevated to Fresh Pick at Baird
Baird analyst Peter Arment raised United Technologies to Fresh Pick based on its steep valuation to peers and the potential for 30-40% upside from current levels. Arment has an Outperform rating and $149 price target on United Technologies shares.
GE General Electric
$9.38

-0.02 (-0.21%)

09/04/19
SBSH
09/04/19
NO CHANGE
SBSH
Buy
GE making 'meaningful progress' on simplifying company, says Citi
Following a recent breakfast with management, including CEO Larry Culp, Citi analyst Andrew Kaplowitz remains encouraged by General Electric's "positive momentum," despite "still considerable improvements needed." In the near-term, GE's 2019 framework of negative $1B to positive $1B free cash flow and earnings per share of 55c-65c seems largely intact, "albeit with some risks to monitor," especially relative to elevated U.S.-China trade tensions, Kaplowitz tells investors in a research note. The analyst, however, believes simplifying the company remains a high priority and one on he thinks "meaningful progress is underway." Further, longer-term, GE's runway for improving results in 2020 and beyond "could be more significant than we think some investors appreciate," says the analyst. He keeps a Buy rating on shares of General Electric.
09/05/19
MSCO
09/05/19
INITIATION
Target $10
MSCO
Equal Weight
General Electric initiated with an Equal Weight at Morgan Stanley
Morgan Stanley analyst Joshua Pokrzywinski initiated coverage of General Electric with an Equal Weight rating and $10 price target. The stock's risk/reward "appears reasonable," but comes with an "unfavorable catalyst timing" and unresolved risks outside the core business, particularly in Long-Term Care, Pokrzywinski tells investors in a research note. He believes the GE's "reasonable" valuation and strength in its Aviation platform are offset by "opaque potential cash needs" in Long-Term Care and the long-term market and share potential in Power as competition evolves. Most of the uncertainty in the shares resides outside the core business, making GE less of a fundamental call, says the analyst.
09/05/19
09/05/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. General Electric (GE) initiated with an Equal Weight at Morgan Stanley. 2. Organigram (OGI) initiated with a Perform at Oppenheimer. 3. Wingstop (WING) initiated with a Market Perform at Raymond James. 4. Boston Scientific (BSX) reinstated with an Overweight at JPMorgan. 5. Cubic (CUB) initiated with a Hold at SunTrust. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
09/11/19
STFL
09/11/19
NO CHANGE
Target $34
STFL
Buy
GE shrinking ownership positive news for Baker Hughes, says Stifel
Stifel analyst Stephen Gengaro noted that General Electric (GE) will cut its ownership stake in Baker Hughes (BHGE) to about 39.5% from 50.3% via Baker Hughes' repurchase of $250M of its Class B common stock and GE's secondary offering of 105M Class A shares. While he said Baker Hughes shares could weaken on the offering, Gengaro views this as positive news for the company, calling it a positive step towards removing the overhang of GE's ownership. He reiterated a Buy rating and $34 price target on Baker Hughes shares.
NVT nVent Electric
$22.95

-0.01 (-0.04%)

08/06/19
08/06/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Chemours (CC) downgraded to Hold from Buy at Argus with analyst David Coleman citing its Q2 earnings miss and lowered FY19 guidance driven by lower volume in its Titanium Technologies business. 2. Trex Company (TREX) downgraded to Neutral from Buy at Sidoti with analyst Frank Camma citing valuation. 3. RE/MAX Holdings (RMAX) downgraded to Neutral from Buy at Compass Point. 4. Rio Tinto (RIO), BHP Group (BHP), Arch Coal (ARCH), Consol Coal (CCR), and Warrior Met Coal (HCC) downgraded to Hold from Buy at Jefferies. 5. nVent Electric (NVT) downgraded to Neutral from Buy at Buckingham with analyst Robert Barry saying he now sees only low-single to high-single digit EPS growth in the second half of 2019 and in 2020 and has less confidence there's a growth recovery or a margin improvement story in Thermal. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/06/19
BUCK
08/06/19
DOWNGRADE
BUCK
Neutral
nVent Electric downgraded to Neutral from Buy at Buckingham
08/06/19
BUCK
08/06/19
DOWNGRADE
Target $23
BUCK
Neutral
Buckingham downgrades nVent Electric to Neutral on weaker earnings view
As previously reported, Buckingham downgraded nVent Electric to Neutral from Buy as analyst Robert Barry lowered his 2019 and 2020 EPS estimates after last week's Q2 report. The analyst, who also lowered his price target on nVent shares to $23 from $29, now sees only low-single to high-single digit EPS growth in the second half of 2019 and in 2020 and has less confidence there's a growth recovery or a margin improvement story in Thermal, he tells investors.
08/01/19
VERT
08/01/19
DOWNGRADE
Target $25
VERT
Hold
nVent Electric downgraded to Hold from Buy at Vertical Research
Vertical Research analyst Jeffrey Spraque downgraded nVent Electric to Hold and lowered his price target to $25 from $30.
KNX Knight-Swift
$37.11

-0.65 (-1.72%)

09/05/19
SUSQ
09/05/19
INITIATION
Target $40
SUSQ
Positive
Knight-Swift initiated with a Positive at Susquehanna
Susquehanna analyst Bascome Majors initiated Knight-Swift with a Positive rating as he believes risks to its guidance are less than perceived given a deliberate shift away from spot to steadier contract freight. He also cited upside from additional stock buybacks and M&A, and valuation. Majors has a $40 price target on Knight-Swift shares.
07/25/19
STFL
07/25/19
DOWNGRADE
Target $40
STFL
Hold
Knight-Swift downgraded to Hold from Buy at Stifel
Stifel anlayst David Ross downgraded Knight-Swift Transportation to Hold from Buy while raising his price target for the shares to $40 from $39. Following the company's Q2 results, the analyst sees a "more challenging" operating environment than was seen a year ago. To-date in July freight remains soft, and expects September will tell the Q3 story, Ross tells investors in a research note. He cites valuation for the downgrade of Knight-Swift to Hold.
HRI Herc Holdings
$46.43

0.35 (0.76%)

03/29/19
LBOW
03/29/19
INITIATION
Target $52
LBOW
Buy
Herc Holdings reinstated with a Buy at Longbow
Longbow analyst Faheem Sabeiha reinstated coverage on Herc Holdings with a Buy and $52 price target.
03/29/19
LBOW
03/29/19
INITIATION
Target $52
LBOW
Buy
Herc Holdings initiated with a Buy. 'great entry-point,' says Longbow
Longbow analyst Faheem Sabeiha initiated Herc Holdings with a Buy and $52 price target. Sabeiha views valuation as a "great entry-point" based on relative historical valuation and its sizable opportunity for margin expansion through internal initiatives.
11/09/18
RBCM
11/09/18
NO CHANGE
Target $60
RBCM
Outperform
Herc Holdings price target lowered to $60 from $72 at RBC Capital
RBC Capital analyst Seth Weber lowered his price target on Herc Holdings to $60 to reflect the lower enterprise value to expected EBITDA multiple of its rental peers. The analyst also keeps his Outperform rating on the company after its Q3 results that produced a "strong and accelerating" annualized rental rate growth along with "significant improvement in rental margin/pull-through". Weber contends that Herc Holdings' "strategic initiatives are gaining traction" and the efforts of its new CFO are having an impact.
06/14/19
BOFA
06/14/19
INITIATION
Target $50
BOFA
Buy
Herc Holdings initiated with a Buy at BofA/Merrill
BofA/Merrill analyst Ross Gilardi initiated Herc Holdings with a Buy and $50 price target saying he expects turnaround efforts to result in increased EBITDA margins and cash flow over the next few years.
BAH Booz Allen
$70.44

0.44 (0.63%)

07/30/19
RHCO
07/30/19
NO CHANGE
Target $80
RHCO
Buy
Booz Allen price target raised to $80 from $69 at SunTrust
SunTrust analyst Tobey Sommer raised his price target on Booz Allen to $80 and kept his Buy rating after its "superior" Q1 revenue growth and "profit flow", with the company's 7% headcount growth from last year's Q1 highlighting its confidence in the "durability of growth." The analyst notes that Booz Allen's "people investment" contributes to the profitability that other government services are unable to match, helping the company win "high margin work". Sommer adds that the management's affirmed FY20 guidance is likely to prove conservative after a "very strong" start to the year.
07/30/19
07/30/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Pfizer (PFE) downgraded to Equal Weight from Overweight at Morgan Stanley and to Neutral from Buy at BofA/Merrill. 2. McDonald's (MCD) downgraded to Hold from Buy at DZ Bank. 3. Booz Allen (BAH) downgraded to Market Perform from Outperform at Wells Fargo with analyst Edward Caso citing valuation. 4. Kinder Morgan (KMI) downgraded to Market Perform from Outperform at BMO Capital with analyst Danilo Juvane saying the shares are up 35% year-to-date with "no clear catalysts on the horizon." 5. Safehold (SAFE) double downgraded to Underweight from Overweight at Barclays with analyst Ross Smotrich saying strong execution, helped by declining rates, have pushed the stock up 77% year-to-date. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
06/03/19
MSCO
06/03/19
INITIATION
Target $70
MSCO
Overweight
Booz Allen initiated with an Overweight at Morgan Stanley
Morgan Stanley analyst Matthew Sharpe initiated coverage of the Government Services industry, starting Booz Allen with an Overweight rating and $70 price target. The company's "superior" topline growth is driven by its leading market position within higher-end technologies, said Sharpe, who added that Booz Allen also has "one of the best balance sheets in the space."
07/30/19
WELS
07/30/19
DOWNGRADE
Target $74
WELS
Market Perform
Booz Allen downgraded to Market Perform from Outperform at Wells Fargo
Wells Fargo analyst Edward Caso downgraded Booz Allen Hamilton to Market Perform from Outperform while raising his price target for the shares to $74 from $71. The analyst cites "solely valuation" for the downgrade.
VNE Veoneer
$17.90

-0.14 (-0.78%)

04/23/19
04/23/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Qualcomm (QCOM) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst James Faucette citing his view that the market has "not yet fully appreciated" the impact of the company's settlement with Apple (AAPL), which he thinks not only increases earnings substantially while also expanding the freedom with which Qualcomm can pursue new opportunities. 2. Kimberly-Clark (KMB) upgraded to Buy from Hold at Argus and to Outperform from Neutral at Macquarie. 3. Sanderson Farms (SAFM) upgraded to Neutral from Sell at Goldman Sachs with analyst Adam Samuelson saying African swine fever is upending the protein markets, Samuelson tells investors in a research note. 4. Visteon (VC) upgraded to Outperform from Neutral at Baird while Veoneer (VNE) was upgraded to Neutral from Underperform. 5. Sony (SNE) upgraded to Outperform from Neutral at Macquarie. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
06/27/19
FBCO
06/27/19
INITIATION
Target $18
FBCO
Neutral
Veoneer initiated with a Neutral at Credit Suisse
Credit Suisse analyst Dan Levy started coverage of Veoneer with a Neutral rating and $18 price target. The analyst believes it offers a "unique narrative" versus other parts suppliers, and presents the potential to be the "best organic revenue growth story," while also offering the highest relative exposure to the high-growth active safety space. Yet the challenge for the company will be to pivot to profitability, he contended. With significant resources required to execute its growth plan, Levy does not expect Veoneer to reach EBIT breakeven before 2023.
05/06/19
BMOC
05/06/19
NO CHANGE
Target $30
BMOC
Outperform
Veoneer price target lowered to $30 from $38 at BMO Capital
BMO Capital analyst Richard Carlson lowered his price target on Veoneer to $30 after its Q1 earnings miss, saying the company is faced with near-term challenges in the environment of "modest decline" in the global auto building industry and higher development costs related to its "high-tech" product portfolio. Beyond the near term headwinds however, Carlson sees "significant upside" for the stock based on the multi-year increase in penetration of its Active Safety products, keeping his Outperform rating on the shares.
PAG Penske Automotive
$48.30

-0.06 (-0.12%)

06/21/19
JPMS
06/21/19
NO CHANGE
JPMS
Neutral
Penske valuation attractive after underperformance, says JPMorgan
Penske Automotive shares have underperformed the franchise dealer group by 2,000 basis points year-to-date driven by a combination of Brexit uncertainty, Section 232 tariffs headlines, concerns around the truck cycle, and the company's "mixed" Q1 results, JPMorgan analyst Rajat Gupta tells investors in a research note. The stock has is now officially in the "attractive valuation" territory on most metrics, adds the analyst. Despite maintaining a Neutral rating on Penske, Gupta sees some potential for "near-term re-rating as some of the recent headwinds start to dissipate."
02/19/19
02/19/19
INITIATION

Fly Intel: Top analyst initiations
Catch up on today's top analyst initiations with this list compiled by The Fly: 1. Southern Copper (SCCO) initiated with a Buy at Goldman Sachs. 2. Arcturus Therapeutics (ARCT) initiated with a Buy at Laidlaw. 3. HEXO Corp (HEXO) initiated with an Outperform at Oppenheimer. 4. Group 1 Automotive (GPI) and Lithia Motors (LAD) were initiated with an Overweight at JPMorgan, while Penske Automotive (PAG) and Asbury Automotive (ABG) were initiated with a Neutral, and Sonic Automotive (SAH) and AutoNation (AN) were initiated with an Underweight at JPMorgan. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
05/06/19
MSCO
05/06/19
UPGRADE
Target $94
MSCO
Overweight
Morgan Stanley more positive on auto dealers, upgrades Group 1 to Overweight
As previously reported, Morgan Stanley analyst Armintas Sinkevicius upgraded Group 1 Automotive (GPI) to Overweight from Equal Weight as he turns positive on the traditional auto dealer group and named it his top pick among the traditional dealers. Sinkevicius sees the potential for an elongated auto cycle following changes to the Fed policy, he noted, adding that he is also drawn to the defensiveness of the dealer model and investor positioning. The analyst, who noted that his estimates are above consensus for all of the traditional dealers in Q2 and for 2019, raised his price target on Group 1 shares to $94 from $67, raised his target on Asbury Automotive (ABG) to $87 from $85, upped his target on AutoNation (AN) to $36 from $27, raised his target on Lithia Motors (LAD) to $128 from $117, increased his target on Sonic Automotive (SAH) to $18 from $10 and keeps a $56 price target on Penske Automotive (PAG).
02/19/19
JPMS
02/19/19
INITIATION
Target $51
JPMS
Neutral
Penske Automotive initiated with a Neutral at JPMorgan
JPMorgan analyst Rajat Gupta started Penske Automotive with a Neutral rating and $51 price target. The analyst initiated coverage on the U.S. Auto Dealership sector with a balanced view on the industry but a more constructive view on the stocks. He says Penske has the "highest-in-sector" leverage and less relative balance sheet optionality.
SAVE Spirit Airlines
$38.75

(0.00%)

09/09/19
BUCK
09/09/19
DOWNGRADE
Target $41
BUCK
Neutral
Buckingham cuts Spirit Airlines to Neutral on worsening revenue challenges
As previously reported, Buckingham analyst Daniel McKenzie downgraded Spirit Airlines (SAVE) to Neutral from Buy and lowered his price target on the shares to $41 from $69, citing his view that the revenue weakness seen in Q3 likely worsens this winter and into 2020. His view that revenue weakening could worsen later this winter is based on the "ungrounding" of Boeing's (BA) MAX, the fact that competitive capacity will double across Spirit's network and JetBlue's (JBLU) rollout of basic economy and does not even factor in an economic downturn or a potential IPO of Frontier, McKenzie tells investors.
09/09/19
BUCK
09/09/19
DOWNGRADE
Target $41
BUCK
Neutral
Spirit Airlines downgraded to Neutral from Buy at Buckingham
Buckingham analyst Daniel McKenzie downgraded Spirit Airlines to Neutral from Buy and lowered his price target on the shares to $41 from $69.
09/03/19
09/03/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Boston Beer (SAM) downgraded to Underperform from Hold at Jefferies with analyst Kevin Grundy saying his consumer survey and web scrapes point to the potential for greater competitive intensity in the "rapidly growing" spiked seltzer category. He views Boston Beer's valuation as "stretched" given its competitive risk in hard seltzers. 2. Spirit Airlines (SAVE) downgraded to Outperform from Strong Buy at Raymond James with analyst Savanthi Syth now expecting a delay in the inflection of sentiment to early 2020. 3. AstraZeneca (AZN) downgraded to Sell from Hold at DZ Bank. 4. Heico (HEI) downgraded to Sell from Neutral at UBS with analyst Louis Raffetto citing valuation. 5. Hilton (HLT) downgraded to Neutral from Outperform at Macquarie with analyst Chad Beynon saying he believes the stock's current valuation with near-peak EBITDA multiples prices in the positives while the company faces a lack of catalysts. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/09/19
COWN
09/09/19
NO CHANGE
Target $51
COWN
Outperform
Spirit Airlines price target lowered to $51 from $60 at Cowen
Cowen analyst Helane Becker lowered her price target on Spirit Airlines to $51 from $60 following its updated Q3 guidance to reflect the impact of Hurricane Dorian and softer than expected off-peak yields. Although the guidance was expected it remains disappointing. Becker maintains her Outperform rating on Spirit Airlines shares.
FCX Freeport McMoRan
$10.22

0.14 (1.39%)

07/24/19
07/24/19
UPGRADE
Target $14

Sector Perform
Freeport McMoRan upgraded to Sector Perform at RBC Capital on copper view
As previously reported, RBC Capital analyst Sam Crittenden upgraded Freeport McMoRan to Sector Perform and raised his price target to $14 from $12. The analyst says he is turning more "cautiously optimistic" on copper heading into 2020 and believes the stock could follow that rally. Crittenden adds that while risks around the transition to block caving at Grasberg remain, some "solid progress" has been made thus far.
07/24/19
RBCM
07/24/19
UPGRADE
Target $14
RBCM
Sector Perform
Freeport McMoRan upgraded to Sector Perform from Underperform at RBC Capital
RBC Capital analyst Sam Crittenden upgraded Freeport McMoRan to Sector Perform and raised his price target to $14 from $12.
07/16/19
07/16/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. LabCorp (LH) upgraded to Neutral from Underperform at BofA/Merrill with analyst Derik De Bruin saying he has become increasingly more constructive on industry trends since January. 2. Timken (TKR) upgraded to Buy from Neutral at Goldman Sachs with analyst Joseph Ritchie saying he shuffled his ratings in the Americas Multi-Industry ahead of the Q2 earnings season. 3. Freeport McMoRan (FCX) upgraded to Equal Weight from Underweight at Barclays while Wheaton Precious Metals (WPM) was upgraded to Overweight from Equal Weight. 4. OneMain Holdings (OMF) upgraded to Overweight from Neutral at JPMorgan with analyst Richard Shane saying with the shares trading at almost a 30% discount to the peer median, the stock can deliver a mid- to high-teens return through 2020. 5. Nokia (NOK) upgraded to Buy from Hold at Danske Bank. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/25/19
07/25/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. UPS (UPS) upgraded to Buy from Neutral at BofA/Merrill with analyst Ken Hoexter saying the "e-commerce revolution" continues to drive airfreight industry growth. 2. AT&T (T) upgraded to Neutral from Underperform at Credit Suisse with analyst Douglas Mitchelson saying he believes video subscriber losses peaked in Q2/Q3 and he does not see risk to consensus 2019 estimates. Additionally, AT&T's valuation is supported by its 6.1% dividend yield, said Mitchelson. 3. Freeport McMoRan (FCX) upgraded to Sector Perform from Underperform at RBC Capital with analyst Sam Crittenden saying he is turning more "cautiously optimistic" on copper heading into 2020 and believes the stock could follow that rally. 4. Activision Blizzard (ATVI) upgraded to Buy from Neutral at BofA/Merrill with analyst Ryan Gee saying the stock is on the "verge of inflection" after a period of investment in people and content set up its "potent" content slate. 5. Etsy (ETSY) upgraded to Buy from Neutral at BTIG with analyst Marvin Fong saying a number of new catalysts has led to a "meaningful" increase in its intrinsic value. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
GTX Garrett Motion
$10.93

-0.53 (-4.62%)

09/10/19
MSCO
09/10/19
INITIATION
Target $8
MSCO
Underweight
Garrett Motion initiated with an Underweight at Morgan Stanley
Morgan Stanley analyst Armintas Sinkevicius initiated Garrett Motion with an Underweight rating and $8 price target, stating that he sees pressure on production, price, and margins given the industry transition toward battery electric vehicles and away from the internal combustion engine. Given its higher leverage, Sinkevicius sees it as unlikely that Garrett Motion would be involved in powertrain consolidation, either as an acquiror or a target, he noted.
01/23/19
RBCM
01/23/19
UPGRADE
RBCM
Sector Perform
Garrett Motion upgraded to Sector Perform from Underperform at RBC Capital
01/23/19
01/23/19
UPGRADE
Target $15

Sector Perform
Garrett Motion upgraded to Sector Perform from Underperform at RBC Capital
As previously reported, RBC Capital analyst Joseph Spak upgraded Garrett Motion to Sector Perform and raised his price target to $15 from $11. The analyst notes that his rating change is valuation-driven since his outlook for 2019 organic growth of 1% is still below the 4%-6% medium-term view held by the company. While he sees 2019 as a below-trend year, Spak states that Garrett Motion's free cash flow potential is "intriguing" as he seeks more visibility on the company's "go-forward strategy".
ALLE Allegion
$100.19

0.28 (0.28%)

07/08/19
FBCO
07/08/19
DOWNGRADE
FBCO
Neutral
Allegion downgraded to Neutral from Outperform at Credit Suisse
07/08/19
07/08/19
DOWNGRADE
Target $112

Neutral
Allegion downgraded to Neutral on valuation at Credit Suisse
As previously reported, Credit Suisse analyst John Walsh downgraded Allegion to Neutral from Outperform saying as he believes the company's "strong fundamentals" are already reflected in the stock price. The analyst also raised his price target on the shares to $112 from $108.
07/29/19
WELS
07/29/19
NO CHANGE
Target $115
WELS
Outperform
Allegion price target raised to $115 form $108 at Wells Fargo
Wells Fargo analyst Deepa Raghavan raised his price target for Allegion to $115 from $108 saying that despite the Q2 miss, management is confident the second half of the year step up happens with both margins and revenues. The analyst reiterates an Outperform rating on the shares.
06/13/19
BOFA
06/13/19
NO CHANGE
Target $116
BOFA
Buy
Allegion price target raised to $116 at BofA/Merrill after HQ visit
BofA/Merrill analyst Andrew Obin raised his price target for Allegion to $116 from $114 and maintained a Buy rating after visiting the company's Carmel, IN, headquarters this week. In a research note to investors, Obin says he believes Allegion continues to be on track for 2019, adding that he expects the company's growth in residential markets to improve off recent deceleration and he sees operating leverage improving in the second half of 2019. Obin raised his 2020/2021 adjusted EPS estimates to $5.31/$5.68 from $5.25/$5.52 previously.

TODAY'S FREE FLY STORIES

COP

ConocoPhillips

$53.99

-0.55 (-1.01%)

08:03
10/19/19
10/19
08:03
10/19/19
08:03
Periodicals
ConocoPhillips stock looking cheap following selloff, Barron's says »

At a time when Wall…

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

  • 29

    Oct

  • 19

    Nov

AMZN

Amazon.com

$1,757.77

-30.07 (-1.68%)

, NFLX

Netflix

$275.40

-17.88 (-6.10%)

08:00
10/19/19
10/19
08:00
10/19/19
08:00
Periodicals
Comcast stacking up better than investors might expect, Barron's says »

If cord-cutting…

AMZN

Amazon.com

$1,757.77

-30.07 (-1.68%)

NFLX

Netflix

$275.40

-17.88 (-6.10%)

CMCSK

Comcast

$0.00

(0.00%)

CMCSA

Comcast

$45.58

-0.36 (-0.78%)

T

AT&T

$38.46

0.64 (1.69%)

DIS

Disney

$130.91

-1.46 (-1.10%)

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

    Oct

  • 24

    Oct

  • 24

    Oct

  • 24

    Oct

  • 27

    Oct

  • 28

    Oct

  • 29

    Oct

  • 29

    Oct

  • 07

    Nov

  • 18

    Nov

  • 19

    Nov

  • 21

    Nov

AKS

AK Steel

$2.45

0.055 (2.30%)

, MT

ArcelorMittal

$14.58

0.03 (0.21%)

07:41
10/19/19
10/19
07:41
10/19/19
07:41
On The Fly
Week in Review: How Trump's policies moved stocks »

Catch up on the top…

AKS

AK Steel

$2.45

0.055 (2.30%)

MT

ArcelorMittal

$14.58

0.03 (0.21%)

NUE

Nucor

$51.69

-0.11 (-0.21%)

STLD

Steel Dynamics

$28.71

-0.04 (-0.14%)

TMST

TimkenSteel

$5.42

-0.015 (-0.28%)

X

U.S. Steel

$10.72

0.1 (0.94%)

GM

General Motors

$36.19

-0.01 (-0.03%)

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

  • 22

    Oct

  • 29

    Oct

  • 31

    Oct

  • 01

    Nov

AAVMY

ABN Amro

$0.00

(0.00%)

, BBVA

Banco Bilbao

$5.38

0.07 (1.32%)

04:55
10/19/19
10/19
04:55
10/19/19
04:55
Conference/Events
Institute of International Finance to hold annual meeting »

2019 IIF Annual Meeting…

AAVMY

ABN Amro

$0.00

(0.00%)

BBVA

Banco Bilbao

$5.38

0.07 (1.32%)

BCS

Barclays

$8.48

0.11 (1.31%)

BLK

BlackRock

$445.26

-5.56 (-1.23%)

BNPQY

BNP Paribas

$0.00

(0.00%)

C

Citi

$69.76

0.16 (0.23%)

CAIXY

CaixaBank

$0.00

(0.00%)

CIB

Bancolombia

$49.65

0.12 (0.24%)

CS

Credit Suisse

$12.34

0.045 (0.37%)

EV

Eaton Vance

$44.07

-0.49 (-1.10%)

GS

Goldman Sachs

$206.61

0.13 (0.06%)

HSBC

HSBC

$38.72

-0.165 (-0.42%)

JPM

JPMorgan

$120.60

0.21 (0.17%)

MA

MasterCard

$270.90

-5.74 (-2.07%)

MCO

Moody's

$217.41

-1.33 (-0.61%)

MS

Morgan Stanley

$43.70

0.25 (0.58%)

NYT

New York Times

$29.76

0.21 (0.71%)

PYPL

PayPal

$101.25

-2.38 (-2.30%)

RBS

RBS

$6.14

0.205 (3.46%)

RY

Royal Bank of Canada

$81.49

0.38 (0.47%)

SMFG

Sumitomo Mitsui

$6.87

-0.04 (-0.58%)

SPGI

S&P Global

$250.62

-2.15 (-0.85%)

STT

State Street

$63.40

3.69 (6.18%)

UBS

UBS

$11.35

0.09 (0.80%)

V

Visa

$175.83

-2.11 (-1.19%)

ZURVY

Zurich Insurance

$0.00

(0.00%)

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

    Oct

  • 22

    Oct

  • 23

    Oct

  • 24

    Oct

  • 24

    Oct

  • 24

    Oct

  • 25

    Oct

  • 27

    Oct

  • 29

    Oct

  • 29

    Oct

  • 29

    Oct

  • 29

    Oct

  • 30

    Oct

  • 31

    Oct

  • 31

    Oct

  • 04

    Nov

  • 06

    Nov

  • 10

    Nov

  • 12

    Nov

  • 21

    Nov

  • 04

    Dec

  • 10

    Dec

  • 07

    Jan

  • 14

    Jan

  • 14

    Jan

STT

State Street

$63.40

3.69 (6.18%)

20:09
10/18/19
10/18
20:09
10/18/19
20:09
Upgrade
State Street rating change at Keefe Bruyette »

State Street upgraded to…

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

    Oct

SUN

Sunoco

$32.43

0.32 (1.00%)

19:53
10/18/19
10/18
19:53
10/18/19
19:53
Upgrade
Sunoco rating change at BMO Capital »

Sunoco upgraded to Market…

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

TLF

Tandy Leather

$4.61

(0.00%)

18:24
10/18/19
10/18
18:24
10/18/19
18:24
Hot Stocks
Tandy Leather CFO Castillo to step down »

Tandy Leather Factory…

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

TLF

Tandy Leather

$4.61

(0.00%)

18:23
10/18/19
10/18
18:23
10/18/19
18:23
Hot Stocks
Tandy Leather says most recent annual report statements not reliable »

Tandy Leather Factory…

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

AAPL

Apple

$236.29

0.99 (0.42%)

18:03
10/18/19
10/18
18:03
10/18/19
18:03
Hot Stocks
U.S. lawmakers request Apple restore HKMapp app in Hong Kong »

U.S. Senators Ron Wyden,…

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

    Oct

JPM

JPMorgan

$120.60

0.21 (0.17%)

, FB

Facebook

$185.96

-4.435 (-2.33%)

17:59
10/18/19
10/18
17:59
10/18/19
17:59
Periodicals
JPMorgan CEO says Libra 'a neat idea that will never happen,' Reuters says »

JPMorgan (JPM) CEO Jamie…

JPM

JPMorgan

$120.60

0.21 (0.17%)

FB

Facebook

$185.96

-4.435 (-2.33%)

PYPL

PayPal

$101.25

-2.38 (-2.30%)

MA

MasterCard

$270.90

-5.74 (-2.07%)

V

Visa

$175.83

-2.11 (-1.19%)

EBAY

eBay

$38.82

-0.31 (-0.79%)

BKNG

Booking Holdings

$2,012.20

-16.43 (-0.81%)

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

    Oct

  • 23

    Oct

  • 23

    Oct

  • 23

    Oct

  • 24

    Oct

  • 27

    Oct

  • 29

    Oct

  • 29

    Oct

  • 30

    Oct

  • 04

    Nov

  • 21

    Nov

  • 14

    Jan

GLD

SPDR Gold Shares

$140.47

-0.13 (-0.09%)

17:52
10/18/19
10/18
17:52
10/18/19
17:52
Hot Stocks
SPDR Gold Shares holdings rise to 924.64MT from 918.19MT »

This is the first…

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

TECK

Teck Resources

$16.48

0.11 (0.67%)

17:43
10/18/19
10/18
17:43
10/18/19
17:43
Hot Stocks
Teck Resources gets approval for stock buyback for up to 40M class B shares »

Teck Resources has been…

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

    Oct

OSK

Oshkosh

$77.22

0.46 (0.60%)

17:41
10/18/19
10/18
17:41
10/18/19
17:41
Hot Stocks
Oshkosh awarded $159.14M Army contract for medium tactical vehicle production »

Oshkosh was awarded a…

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

    Oct

  • 19

    Nov

  • 20

    Nov

OVLY

Oak Valley Bancorp

$16.40

-0.16 (-0.97%)

17:35
10/18/19
10/18
17:35
10/18/19
17:35
Earnings
Oak Valley Bancorp reports Q3 EPS 40c vs. 37c last year »

Reports Q3 NII $10.4M vs.…

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

FTNW

FTE Networks

$0.79

-0.0185 (-2.29%)

17:21
10/18/19
10/18
17:21
10/18/19
17:21
Hot Stocks
FTE Networks receives noncompliance notice from NYSE American »

FTE Networks announced…

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

TNXP

Tonix Pharmaceuticals

$0.45

0.0048 (1.07%)

17:12
10/18/19
10/18
17:12
10/18/19
17:12
Syndicate
Breaking Syndicate news story on Tonix Pharmaceuticals »

Tonix Pharmaceuticals…

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

RLMD

Relmada Therapeutics

$20.18

1.07 (5.60%)

17:10
10/18/19
10/18
17:10
10/18/19
17:10
Syndicate
Breaking Syndicate news story on Relmada Therapeutics »

Relmada Therapeutics…

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

16:55
10/18/19
10/18
16:55
10/18/19
16:55
General news
Breaking General news story  »

Dallas Federal Reserve…

NWSA

News Corp.

$13.48

-0.19 (-1.39%)

, NWS

News Corp

$13.79

-0.11 (-0.79%)

16:51
10/18/19
10/18
16:51
10/18/19
16:51
Periodicals
Facebook reaches pact with News Corp., others for news section, WSJ says »

News Corp. (NWSA) has…

NWSA

News Corp.

$13.48

-0.19 (-1.39%)

NWS

News Corp

$13.79

-0.11 (-0.79%)

FB

Facebook

$185.96

-4.435 (-2.33%)

NYT

New York Times

$29.76

0.21 (0.71%)

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

    Oct

  • 23

    Oct

  • 27

    Oct

  • 30

    Oct

  • 06

    Nov

WAIR

Wesco Aircraft

$11.01

0.01 (0.09%)

16:46
10/18/19
10/18
16:46
10/18/19
16:46
Conference/Events
Wesco Aircraft to host special shareholder meeting »

Special Shareholder…

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

    Oct

FOMX

Foamix

$3.15

-0.09 (-2.78%)

16:41
10/18/19
10/18
16:41
10/18/19
16:41
Hot Stocks
Breaking Hot Stocks news story on Foamix »

Foamix up 7.5% at $3.35…

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

    Oct

  • 20

    Oct

POAI

Predictive Oncology

$0.44

0.0101 (2.35%)

16:40
10/18/19
10/18
16:40
10/18/19
16:40
Conference/Events
Predictive Oncology to host special shareholder meeting »

Special Shareholder…

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

  • 23

    Oct

BK

BNY Mellon

$45.34

0.975 (2.20%)

16:40
10/18/19
10/18
16:40
10/18/19
16:40
Hot Stocks
BNY Mellon SVP Harris sells 50K shares of common stock »

In a regulatory filing,…

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

FOMX

Foamix

$3.15

-0.09 (-2.78%)

16:40
10/18/19
10/18
16:40
10/18/19
16:40
Hot Stocks
Breaking Hot Stocks news story on Foamix 

Foamix trading resumes

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

    Oct

  • 20

    Oct

BAC

Bank of America

$30.37

0.1 (0.33%)

16:35
10/18/19
10/18
16:35
10/18/19
16:35
Hot Stocks
Bank of America's Knox sells 40,000 common shares »

In a regulatory filing,…

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

    Nov

  • 15

    Jan

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.