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IIVI

II-VI

$39.05

-0.5 (-1.26%)

, CPE

Callon Petroleum

$4.53

-0.015 (-0.33%)

17:31
09/20/19
09/20
17:31
09/20/19
17:31

II-VI to enter S&P 400; Callon Petroleum, PriceSmart to enter S&P SmallCap600

S&P SmallCap 600 constituent II-VI (IIVI) will replace Callon Petroleum Co (CPE) in the S&P MidCap 400, Callon Petroleum will replace II-VI in the S&P SmallCap 600, and PriceSmart Inc. (PSMT) will replace Finisar Corp. (FNSR) in the S&P SmallCap 600. II-VI is acquiring Finisar in a transaction expected to be completed soon pending final conditions. Post-merger, II-VI will have a total market capitalization that is more representative of the mid-cap market space. Callon Petroleum has a market capitalization that is more representative of the small-cap market space.

IIVI

II-VI

$39.05

-0.5 (-1.26%)

CPE

Callon Petroleum

$4.53

-0.015 (-0.33%)

PSMT

PriceSmart

$60.29

-0.39 (-0.64%)

FNSR

Acquired by IIVI

$24.31

1.25 (5.42%)

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    Oct

  • 30

    Oct

IIVI II-VI
$39.05

-0.5 (-1.26%)

08/14/19
NEED
08/14/19
NO CHANGE
Target $46
NEED
Buy
II-VI price target raised to $46 from $44 at Needham
Needham analyst James Ricchiuti raised his price target on II-VI to $46 and kept his Buy rating after its above-consensus revenue reported in Q4, driven by the "accelerated shipments in the optical communications market." The analyst believes that business in optical communications as well as in A&D will remain "strong", with the company's SiC substrates and 3D sensing growth platforms also positioned for good performance in FY20.
08/14/19
PIPR
08/14/19
NO CHANGE
Target $50
PIPR
Overweight
II-VI guidance for Q1 likely conservative, says Piper Jaffray
II-VI reported fiscal Q4 results with revenue and earnings above Street expectations while missing consensus for its Q1 guidance, Piper Jaffray analyst Troy Jensen tells investors in a research note. The analyst, however, believes the guidance is "somewhat conservative" given the geopolitical tensions and business that was pulled forward in Q4. II-VI's optics segment had a strong year and this strength should continue with sustained strength in telco and an improving outlook from datacom customers, says Jensen. II-VI was also incrementally more upbeat on 3D sensing, the analyst adds. He reiterates an Overweight rating on the shares with a $50 price target.
08/12/19
NEED
08/12/19
NO CHANGE
Target $44
NEED
Buy
II-VI price target raised to $44 from $39 at Needham
Needham analyst James Ricchiuti raised his price target on II-VI to $44 and kept his Buy rating ahead of its Q4 earnings, saying he expects a "strong quarter" amid "healthy" conditions in the optical communications market. The analyst notes that the company's China industrial business could be a source of upside despite the recent investor concerns because of its "unique" position as a key diode supplier to the local fiber laser competitors. Ricchiuti adds that II-VI's emerging platform in SiC wafers was a "growth driver" in the quarter.
07/29/19
JPMS
07/29/19
INITIATION
Target $50
JPMS
Overweight
II-VI initiated with an Overweight at JPMorgan
JPMorgan analyst Samik Chatterjee started II-VI with an Overweight rating and $50 price target. The analyst has favorable outlook for the company's sales growth, driven by leverage to "tailwinds" in optical and wireless communication components, industrial lasers, and 3D sensing. II-VI also has a "differentiated position" in military applications and potential opportunities for "outsized" growth leveraging capabilities in silicon carbide and EUV, Chatterjee tells investors in a research note.
CPE Callon Petroleum
$4.53

-0.015 (-0.33%)

07/16/19
IMPC
07/16/19
NO CHANGE
Target $11
IMPC
Outperform
Callon Petroleum price target lowered to $11 from $16 at Imperial Capital
Imperial Capital analyst Irene Haas lowered her price target for Callon Petroleum (CPE) to $11 from $16 to reflect her firm's reduced price deck for 2019. The analyst, however, supports the larger combined entity created by the company's acquisition of Carrizo Oil & Gas (CRZO). She sees more scope, scale, and geographic diversity from the new company and keeps an Outperform rating on Callon.
07/15/19
JEFF
07/15/19
DOWNGRADE
Target $7
JEFF
Hold
Callon Petroleum downgraded to Hold on cash flow challenges at Jefferies
Jefferies analyst Mark Lear downgraded Callon Petroleum to Hold from Buy and lowered his price target for the shares to $7 from $11. The analyst believes the company will be challenged to deliver free cash flow. His favorite ways to play the Midland are Diamondback Energy (FANG), Parsley Energy (PE), and Concho Resources (CXO).
08/12/19
KEYB
08/12/19
DOWNGRADE
KEYB
Sector Weight
Carrizo Oil & Gas downgraded to Sector Weight from Overweight at KeyBanc
KeyBanc analyst Leo Mariani downgraded Carrizo Oil & Gas (CRZO) to Sector Weight from Overweight without a price target. The analyst does not see another buyer emerging after Callon Petroleum (CPE) agreed to acquire Carrizo for a 25% premium.
07/16/19
MKMP
07/16/19
DOWNGRADE
Target $11
MKMP
Neutral
Carrizo Oil & Gas downgraded to Neutral from Buy at MKM Partners
MKM Partners analyst John Gerdes downgraded Carrizo Oil & Gas (CRZO) to Neutral and lowered his price target to $11 from $19 after its announced acquisition by Callon Petroleum (CPE) in an all-stock deal. The analyst notes that the shares now trade with less than 10% equity value upside and warrant a neutral stance. Gerdes also calls the deal "sensible" given the companies' complementary Delaware Basin assets and greater operational efficiencies.
PSMT PriceSmart
$60.29

-0.39 (-0.64%)

07/12/19
KCMO
07/12/19
UPGRADE
KCMO
Outperform
PriceSmart upgraded to Outperform from Perform at Kansas City
07/18/19
07/18/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Apple (AAPL) and Skyworks (SWKS) upgraded to Outperform from Market Perform at Raymond James with analyst Christopher Caso citing greater confidence in next year's 5G iPhone cycle. 2. PriceSmart (PSMT) upgraded to Outperform from Sector Perform at Scotiabank. 3. BNY Mellon (BK) upgraded to Market Perform from Underperform at Keefe Bruyette with analyst Brian Kleinhanzl saying after the company's Q2 results, he feels its negative catalysts are slowly reversing. 4. U.S. Bancorp (USB) upgraded to Neutral from Underperform at BofA/Merrill with analyst Erika Najarian saying she believes earnings headwinds have reached an inflection point and net interest margin is more defensible versus peers. 5. Power Integrations (POWI) upgraded to Buy from Hold at Stifel with analyst Tore Svanberg citing the company's near-term momentum from the USB-PD adoption cycle as well as its longer-term opportunity in the high-power industry and auto. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/17/19
SCOT
07/17/19
UPGRADE
Target $82
SCOT
Outperform
PriceSmart upgraded to Outperform from Sector Perform at Scotiabank
Scotiabank analyst Rodrigo Echagaray upgraded PriceSmart to Outperform from Sector Perform and lowered its price target to $82 from $86.
FNSR Acquired by IIVI
$24.31

1.25 (5.42%)

03/01/19
PIPR
03/01/19
NO CHANGE
Target $24.5
PIPR
Overweight
Finisar revenue growth remains 'elusive,' says Piper Jaffray
Finisar last night reported December quarter results similar to last quarter with earnings upside but revenues below consensus, Piper Jaffray analyst Troy Jensen tells investors in a research note. The company made improvements in gross margins, but given greater than 70% of its sales are datacom related and the segment continues to see weakness, Jensen adds. As such, "solid revenue growth remains elusive," he says. The analyst maintains a Buy rating on Finisar shares with a $24.50 price target.
06/14/19
MKMP
06/14/19
NO CHANGE
Target $23
MKMP
Neutral
Finisar price target lowered to $23 from $25 at MKM Partners
MKM Partners analyst Michael Genovese lowered his price target on Finisar to $23 and kept his Neutral rating after its mixed Q4 results with "soft" revenues and solid earnings. The analyst attributes the shortfall to the "ongoing weakness" in 100G datacom module pricing and also lowers his FY20 EPS view to $1.09 from $1.37 to account for Huawei sales loss, but also believes that the company's Telecom business was likely solid and its 3D Sensing performance was "okay".
05/02/19
CHLM
05/02/19
NO CHANGE
Target $54
CHLM
Buy
II-VI price target raised to $54 from $47 at Craig-Hallum
Craig-Hallum analyst Richard Shannon raised his price target for II-VI (IIVI) to $54 from $47, assuming the company will close Finisar (FNSR) and based on his projected 2021 EPS for the combined entity. The analyst reiterates a Buy rating on II-VI shares.
05/01/19
PIPR
05/01/19
NO CHANGE
Target $50
PIPR
Overweight
II-VI Q3 results show 'strong optical demand', says Piper Jaffray
Piper Jaffray analyst Troy Jensen kept his Overweight rating and $50 price target on II-VI (IIVI) after its Q3 results, saying its Q3 earnings miss was driven by slower than expected 3D sensing revenue growth, even though the demand for its optical business remained strong. The analyst still believes that 3D sensing will be a tailwind for II-VI longer term and also sees its Finisar (FNSR) acquisition tracking according to plan toward a closing in 2-3 months.

TODAY'S FREE FLY STORIES

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$79.20

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CRM

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SCHW

Charles Schwab

$39.75

0.29 (0.73%)

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CG

Carlyle Group

$27.06

-0.07 (-0.26%)

10:22
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STT

State Street

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1.7 (2.85%)

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NIO

NIO Inc.

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$92.97

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  • 22

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STT

State Street

$60.83

1.12 (1.88%)

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  • 18

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SXT

Sensient

$60.60

-5.97 (-8.97%)

10:00
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  • 18

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