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ARNC

Arconic

$26.84

0.38 (1.44%)

, BA

Boeing

$373.04

-1.86 (-0.50%)

07:57
10/15/19
10/15
07:57
10/15/19
07:57

Arconic price target raised to $34 from $28 at Credit Suisse

Credit Suisse analyst Curt Woodworth raised his price target for Arconic (ARNC) to $34 from $28 as he believes the company remains on track for its Q2 2020 separation, which he continues to see as a positive catalyst for the stock. In 2020, EBITDA growth will be driven by acceleration in narrow-body build rates as Boeing (BA) 737 Max recovers, jet engine growth is supported by two new plant ramp ups and spares restock cycle/JSF demand, he contends. The analyst reiterates an Outperform rating on Arconic's shares.

ARNC

Arconic

$26.84

0.38 (1.44%)

BA

Boeing

$373.04

-1.86 (-0.50%)

  • 23

    Oct

  • 05

    Nov

ARNC Arconic
$26.84

0.38 (1.44%)

10/07/19
10/07/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Match Group (MTCH) upgraded to Buy from Neutral at Nomura Instinet and to Buy from Hold at Deutsche Bank. 2. Uber (UBER) upgraded to Buy from Neutral at Citi with analyst Itay Michaeli saying the company's upcoming Q3 results should bring an acceleration in revenue growth and swing investment sentiment more favorably. 3. Arconic (ARNC) upgraded to Overweight from Neutral at JPMorgan with analyst Seth Seifman saying he sees a "compelling" risk/reward profile following the stock's 8% decline in the past two weeks. 4. JetBlue (JBLU) upgraded to Buy from Neutral at Buckingham with analyst Daniel McKenzie saying competitive capacity looks manageable at this point, but notes that his upgrade is likely "early," given IT initiatives that don't become material to revenue until the first quarter of 2020. 5. E-Trade (ETFC) and Moody's (MCO) upgraded to Buy from Neutral 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.
10/08/19
BREN
10/08/19
INITIATION
BREN
Buy
Arconic initiated with a Buy rating at Berenberg
Berenberg analyst Paretosh Misra initiated coverage of Arconic with a Buy rating.
10/14/19
COWN
10/14/19
UPGRADE
Target $31
COWN
Outperform
Arconic upgraded to Outperform from Market Perform at Cowen
Cowen analyst Gautam Khanna upgraded Arconic to Outperform from Market Perform with a price target of $31, up from $26.
10/14/19
COWN
10/14/19
UPGRADE
Target $31
COWN
Outperform
Cowen upgrades Arconic to Outperform on improving free cash flow
Cowen analyst Gautam Khanna upgraded Arconic (ARNC) to Outperform from Market Perform with a price target of $31, up from $26. The company's improving free cash flow makes for a low valuation on an enterprise value to EBITDA basis, Khanna tells investors in a research note. Arconic shares warrant an "upward re-rating," closer to a 7.5 times multiple, which would represent a 40% all-in discount to peer Hexcel (HXL), contends the analyst.
BA Boeing
$373.04

-1.86 (-0.50%)

10/01/19
JEFF
10/01/19
NO CHANGE
Target $430
JEFF
Buy
Boeing estimates trimmed on more cautious 737 Max view at Jefferies
Jefferies analyst Sheila Kahyaoglu raised her price target for Boeing to $430 from $420 while keeping a Buy rating on the shares. The analyst, who still assumes 737 MAX recertification occurs in 2019, lowered her 2019 estimate to reflect a more cautious view on the 737 MAX. She now forecast core earnings per share of $3.40 and $22.15 in 2019 and 2020, down from $5.30 and $22.85, respectively. However, Kahyaoglu believes Boeing's free cash flow outlook can sustain a rate of greater than $30 per share from 2020-2022 with advances and inventory as "moving pieces." She forecasts free cash flow per share of ~$6 in 2019, climbing to $31 in 2020 as 737 MAX inventory unwinds and the company reestablishes productivity capture.
10/02/19
BARD
10/02/19
NO CHANGE
Target $445
BARD
Outperform
Boeing price target lowered to $445 from $470 at Baird
Baird analyst Peter Arment lowered his price target on Boeing to $445 from $470 as he sees increased risk to the company's production rates over the next 24 months. The analyst does see free cash flow dynamics beginning to improve in 2020 with 2021 still looking favorable. He sees a lower valuation range more likely especially with existing China risks. Arment maintained his Outperform rating on Boeing shares.
10/08/19
BUCK
10/08/19
NO CHANGE
Target $395
BUCK
Neutral
Buckingham sticks by call for Boeing 'bounce' to $425-$450 despite EU 'friction'
Buckingham analyst Richard Safran noted that Boeing reported 787 deliveries were lighter than expected in Q3 and also noted that new press reports have raised concerns that the EU could delay MAX certification. While he thinks any potential EU action delaying MAX certification is a concern, he also thinks investors view 2019 "as a throw away year for valuation" and a delay in MAX certification from European regulators isn't likely to meaningfully change estimates for 2020 and 2021. Safran said he still believes Boeing shares could bounce to $425-$450 when there are clear signs the MAX will be returning to service, though he keeps a Neutral rating and $395 price target on the stock.
10/14/19
GSCO
10/14/19
UPGRADE
GSCO
Buy
Goldman upgrades China Southern to Buy on slower supply growth
Goldman Sachs analyst Ben Hartwright upgraded China Southern Airlines (ZNH) to Buy from Neutral with a price target of HK$6.70, up from HK$6.60. The analyst also reiterates a Buy rating on Air China (AIRYY) and maintains a Buy rating on China Eastern Airlines (CEA). His new 12-month price targets offer 38%-60% upside potential. Hartwright continues to be positive on Chinese airlines, as he believes supply growth "should be kept in check" due to airspace capacity constraints and the Boeing (BA) 737 MAX groundings. The analyst also sees a demand recovery supported by "recent strong loosening signals" in China, and expects a lower oil price in Q4 relative to last year.

TODAY'S FREE FLY STORIES

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$31.07

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  • 12

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$0.81

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$6.89

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$0.67

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PTVCA

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$15.36

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ADSK

Autodesk

$178.55

-1.315 (-0.73%)

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BILL

Bill.com

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  • 12

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USO

United States Oil Fund

$12.45

0.16 (1.30%)

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EIA natural gas storage change for week ending December 6 »

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PTVCA

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KRUS

Kura Sushi

$25.45

0.32 (1.27%)

10:31
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BILL

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$0.00

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  • 12

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ZYME

Zymeworks

$42.45

0.3 (0.71%)

, AZN

AstraZeneca

$48.38

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  • 17

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WCN

Waste Connections

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SGH

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  • 19

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ALG

Alamo Group

$116.31

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$NSD

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$NYE

NYSE Market Internals

$0.00

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MG

Mistras

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