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TGE

Tallgrass Energy

$19.38

-0.005 (-0.03%)

, BX

Blackstone

$46.52

-0.58 (-1.23%)

06:19
10/15/19
10/15
06:19
10/15/19
06:19

Tallgrass Energy downgraded to Neutral from Buy at Citi

Citi analyst Timm Schneider downgraded Tallgrass Energy (TGE) to Neutral from Buy with a price target of $19.50, down from $23. After "some market jitters last week," Blackstone (BX) and Tallgrass Energy both released statements confirming the take-private offer is still alive and in front of the conflicts committee, Schneider tells investors in a research note. He believes Tallgrass units are worth ~$19 fundamentally after adjusting for the recent lowered Pony tariffs. With the lower contributions from Pony Express, the analyst assumes a one-time dividend cut of ~25% to an annualized $1.68 per share taking place in Q1 of 2020.

TGE

Tallgrass Energy

$19.38

-0.005 (-0.03%)

BX

Blackstone

$46.52

-0.58 (-1.23%)

  • 23

    Oct

  • 30

    Oct

TGE Tallgrass Energy
$19.38

-0.005 (-0.03%)

08/29/19
BOFA
08/29/19
UPGRADE
Target $20
BOFA
Neutral
Tallgrass Energy upgraded to Neutral from Underperform at BofA/Merrill
BofA/Merrill analyst Dennis Coleman upgraded Tallgrass Energy to Neutral with a price target of $20 following the disclosure of a take-private proposal from Blackstone Infrastructure Partners earlier this week. The analyst notes the company will next form a Conflicts Committee to review the proposal.
08/29/19
08/29/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Jabil (JBL) double upgraded to Buy from Sell at Citi with analyst Jim Suva saying the company's customer concentration risk has played out. 2. HP Enterprise (HPE) upgraded to Buy from Hold at Argus with analyst Jim Kelleher saying the company is facing "top-line challenges" but its positive earnings comparisons imply an "improving" sales mix. 3. Fiserv (FISV) upgraded to Buy from Neutral at Citi with analyst Ashwin Shirvaikar saying Fiserv acquired an attractive asset in First Data and the stock of the combined company offers a good idea in a volatile market. 4. NextGen Healthcare (NXGN) upgraded to Sector Weight from Underweight at KeyBanc with analyst Donald Hooker saying he believes the compact is having success re-accelerating its organic revenue growth rates into the low-single digits. 5. Tallgrass Energy (TGE) upgraded to Neutral from Underperform at BofA/Merrill analyst Dennis Coleman citing the disclosure of a take-private proposal from Blackstone Infrastructure Partners earlier this week. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/03/19
SCOT
09/03/19
INITIATION
Target $19.5
SCOT
Sector Perform
Tallgrass Energy initiated with a Sector Perform at Scotiabank
Scotiabank started Tallgrass Energy with a Sector Perform rating and $19.50 price target.
10/11/19
STFL
10/11/19
DOWNGRADE
Target $20
STFL
Hold
Tallgrass Energy downgraded to Hold from Buy at Stifel
Stifel analyst Selman Akyol downgraded Tallgrass Energy (TGE) to Hold from Buy with an unchanged price target of $20. Given Blackstone's (BX) previous take private offer of $19.50 per unit, the analyst believes "significant upside is less likely." Akyol finds Tallgrass Energy fairly valued at current levels.
BX Blackstone
$46.52

-0.58 (-1.23%)

10/07/19
BMOC
10/07/19
INITIATION
BMOC
KKR, Victory Capital, Apollo Global top BMO Capital picks among asset managers
BMO Capital analyst James Fotheringham initiated 11 U.S. asset managers, selecting KKR (KKR), Victory Capital (VCTR), and Apollo Global (APO) as his "top picks" with Outperform ratings and respective price targets of $40, $33, and $52 per share. The analyst believes that investors are undervaluing KKR's performance fees reliability and also have yet to appropriately value its "meaningful" excess capital. Instead, Fotheringham believes that investors are too worried about the risks of recession and KKR's relatively larger balance sheet. For Victory Global, the analyst believes that the market is overly concerned with its balance sheet leverage and believes that the company's organic growth will outperform expectations because of its exposure to to higher-growth segments like ETF products and solutions-seeking investors. For Apollo Global, Fotheringham notes that investors are undervaluing its accelerating Fee Related Earnings growth and expects the stock to benefit from technical support related to "improved liquidity, broadened shareholder engagement, and index inclusions." As part of his research note, the analyst also started the following at Market Perform: Ares Management (ARES) with price target $31, Invesco (IVZ) with price target $18, Blackrock (BLK) with price target $44, AssetMark (AMK) with price target $24, Blackstone (BX) with price target of $44, Carlyle Group (CG) with price target of $23, and T. Rowe Price (TROW) with price target of $101. Fotheringham also initiated Franklin Resources (BEN) at Underperform with price target of $16, saying the market is overvaluing its management-fee related income amid continued outflows and magnified redemption risk as well as operating expense "inflexibility". The analyst warns that Franklin's U.S. and European retail channels are facing ongoing fee pressures and risk from active-to-passive rotation.
10/08/19
10/08/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Target (TGT) initiated with a Strong Buy at Raymond James . 2. Tyler Technologies (TYL) initiated with an Outperform rating at Oppenheimer. 3. Kirkland Lake Gold (KL) initiated with a Neutral rating at Credit Suisse. 4. Blackstone (BX) and BlackRock (BLK) initiated with a Market Perform at BMO Capital. 5. Floor & Decor (FND) initiated with a Strong Buy at Raymond James. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
10/14/19
BOFA
10/14/19
DOWNGRADE
BOFA
Neutral
Blackstone downgraded to Neutral from Buy at BofA/Merrill
10/14/19
BOFA
10/14/19
DOWNGRADE
Target $52
BOFA
Neutral
BofA gets more selective in alternative asset managers, downgrades Blackstone
BofA Merrill Lynch analyst Michael Carrier downgraded Blackstone (BX) to Neutral from Buy with a price target of $52, down from $54, stating that he is getting a bit more selective within the alternative asset managers sector since valuation multiples have moved higher so far this year while estimates have moved lower. Despite his view that the firm is structurally very well positioned over the long-term, he sees more modest upside for the stock from here and prefers others with a higher portion of fee related earnings of that have upcoming fundraising catalysts, Carrier tells investors. To reflect a more typical level of fundraising ahead and the potential for slightly lower than expected realizations if geopolitical risks linger, Carrier also trimmed his price target for Ares Management (ARES) to $31 from $32 and lowered his target for target for KKR (KKR) shares to $31 from $32.

TODAY'S FREE FLY STORIES

09:05
11/18/19
11/18
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09:05
General news
FX Action: USD-JPY »

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ADM

Archer Daniels

$42.87

0.09 (0.21%)

09:04
11/18/19
11/18
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09:04
Conference/Events
Archer Daniels management to meet with Buckingham »

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VAR

Varian Medical

$128.52

3.51 (2.81%)

09:03
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11/18
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09:01
11/18/19
11/18
09:01
11/18/19
09:01
Conference/Events
UBS to hold a conference »

5th Annual UBS…

MTSI

Macom

$25.88

-0.77 (-2.89%)

09:01
11/18/19
11/18
09:01
11/18/19
09:01
Recommendations
Macom analyst commentary  »

Macom price target raised…

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  • 09

    Dec

09:01
11/18/19
11/18
09:01
11/18/19
09:01
Conference/Events
Wolfe Research to hold a conference »

3rd Annual Global…

KERN

Akerna

$5.86

2.055 (54.01%)

09:00
11/18/19
11/18
09:00
11/18/19
09:00
Hot Stocks
Akerna CEO says FY19 was 'landmark year' for company »

Akerna announced a letter…

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SERV

ServiceMaster

$34.86

0.86 (2.53%)

09:00
11/18/19
11/18
09:00
11/18/19
09:00
Recommendations
ServiceMaster analyst commentary  »

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  • 19

    Nov

09:00
11/18/19
11/18
09:00
11/18/19
09:00
Conference/Events
Raymond James to hold a conference »

Growth & Value…

09:00
11/18/19
11/18
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General news
U.S. equities have taken back earlier gains »

U.S. equities have taken…

NAV

Navistar

$33.03

0.39 (1.19%)

, GM

General Motors

$36.87

0.07 (0.19%)

08:58
11/18/19
11/18
08:58
11/18/19
08:58
Recommendations
Navistar, General Motors analyst commentary  »

Navistar price target…

NAV

Navistar

$33.03

0.39 (1.19%)

GM

General Motors

$36.87

0.07 (0.19%)

03/08/13
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STT

State Street

$72.56

0.29 (0.40%)

08:57
11/18/19
11/18
08:57
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08:57
Recommendations
State Street analyst commentary  »

State Street price target…

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TRUP

Trupanion

$32.35

1.29 (4.15%)

08:57
11/18/19
11/18
08:57
11/18/19
08:57
Recommendations
Trupanion analyst commentary  »

Trupanion shares still…

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  • 19

    Nov

  • 19

    Nov

ASML

ASML

$274.73

4.86 (1.80%)

, ERIC

Ericsson

$9.14

0.235 (2.64%)

08:57
11/18/19
11/18
08:57
11/18/19
08:57
Conference/Events
JPMorgan to hold a conference »

Global TMT…

ASML

ASML

$274.73

4.86 (1.80%)

ERIC

Ericsson

$9.14

0.235 (2.64%)

IMAX

Imax

$21.07

0.08 (0.38%)

SIMO

Silicon Motion

$42.62

0.35 (0.83%)

SSNLF

Samsung

$0.00

(0.00%)

03/08/13
Wedge Partners
03/08/13
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03/06/13
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03/06/13
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  • 18

    Nov

  • 19

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  • 20

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  • 02

    Dec

  • 09

    Dec

  • 09

    Dec

  • 11

    Dec

  • 06

    Jan

ACST

Acasti Pharma

$2.04

0.105 (5.43%)

08:55
11/18/19
11/18
08:55
11/18/19
08:55
Hot Stocks
Acasti Pharma releases preliminary animal data on CaPres mechanism of action »

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AAPL

Apple

$265.73

3.07 (1.17%)

, DHR

Danaher

$142.96

6.795 (4.99%)

08:55
11/18/19
11/18
08:55
11/18/19
08:55
Options
Notable open interest changes for November 18th »

Friday's total…

AAPL

Apple

$265.73

3.07 (1.17%)

DHR

Danaher

$142.96

6.795 (4.99%)

AMD

AMD

$38.55

0.19 (0.50%)

ACB

Aurora Cannabis

$2.72

-0.57 (-17.33%)

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 20

    Nov

  • 09

    Dec

HIIQ

Health Insurance Innovations

$23.39

0.31 (1.34%)

08:55
11/18/19
11/18
08:55
11/18/19
08:55
Downgrade
Health Insurance Innovations rating change  »

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ANCN

Anchiano Therapeutics

$1.93

-0.32 (-14.22%)

08:54
11/18/19
11/18
08:54
11/18/19
08:54
Downgrade
Anchiano Therapeutics rating change  »

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CE

Celanese

$125.95

-0.37 (-0.29%)

, WLK

Westlake Chemical

$71.25

-1.25 (-1.72%)

08:53
11/18/19
11/18
08:53
11/18/19
08:53
Conference/Events
Jefferies to hold a bus tour »

Texas Chemical Bus Tour…

CE

Celanese

$125.95

-0.37 (-0.29%)

WLK

Westlake Chemical

$71.25

-1.25 (-1.72%)

LYB

LyondellBasell

$95.94

0.07 (0.07%)

03/08/13
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03/06/13
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  • 18

    Nov

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  • 04

    Dec

AON

Aon plc

$198.67

0.01 (0.01%)

08:52
11/18/19
11/18
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11/18/19
08:52
Downgrade
Aon plc rating change  »

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COTY

Coty

$11.90

-0.05 (-0.42%)

08:52
11/18/19
11/18
08:52
11/18/19
08:52
Hot Stocks
Coty enters partnership with Kylie Jenner, acquires 51% of partnership for $600M »

Coty and Kylie Jenner…

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  • 12

    Dec

ARTL

Artelo Biosciences

$2.19

0.04 (1.86%)

08:51
11/18/19
11/18
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08:51
Hot Stocks
Artelo announces publication of fatty acid binding protein 5 inhibitor data »

Artelo Biosciences…

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MMC

Marsh & McLennan

$105.50

0.16 (0.15%)

08:51
11/18/19
11/18
08:51
11/18/19
08:51
Upgrade
Marsh & McLennan rating change  »

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QDEL

Quidel

$64.10

2.33 (3.77%)

08:50
11/18/19
11/18
08:50
11/18/19
08:50
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Quidel analyst commentary  »

Quidel price target…

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TOL

Toll Brothers

$40.01

-0.395 (-0.98%)

08:50
11/18/19
11/18
08:50
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08:50
Hot Stocks
Toll Brothers, JD Capital USA launch joint venture to develop rental community »

Toll Brothers, through…

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  • 10

    Dec

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