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NLY

Annaly Capital

$8.77

0.1 (1.15%)

, IVZ

Invesco

$15.76

0.12 (0.77%)

14:26
10/18/19
10/18
14:26
10/18/19
14:26

Annaly Capital, Invesco named as stock picks by Bill Gross

Bill Gross, during an interview on CNBC, mentioned Annaly Capital (NLY) and Invesco (IVZ) as stocks he's invested in. Gross also noted that he recently sold out of his position in Dominion (D). Gross continues to be interviewed on CNBC.

NLY

Annaly Capital

$8.77

0.1 (1.15%)

IVZ

Invesco

$15.76

0.12 (0.77%)

D

Dominion

$82.18

-0.2 (-0.24%)

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    Nov

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    Nov

NLY Annaly Capital
$8.77

0.1 (1.15%)

10/02/19
RBCM
10/02/19
INITIATION
Target $10
RBCM
Outperform
Annaly Capital initiated with an Outperform at RBC Capital
RBC Capital analyst Kenneth Lee initiated Annaly Capital with an Outperform and $10 price target.
09/03/19
UBSW
09/03/19
DOWNGRADE
Target $8
UBSW
Neutral
Annaly Capital downgraded to Neutral from Buy at UBS
UBS analyst Brock Vandervliet downgraded Annaly Capital to Neutral and lowered his price target to $8 from $9.50, citing a "more hostile" interest rate environment. The analyst notes that Mortgage REITs is the most interest rate sensitive sector and contends that investment factors for Annaly Capital are different from the time when he initiated the stock in mid-June as the treasury yield curve not only flattened but inverted.
10/02/19
RBCM
10/02/19
INITIATION
RBCM
RBC Capital initiates select mortgage REITs with 'constructive' outlook
RBC Capital analyst Kenneth Lee initiated select names in the Mortgage REIT sector with a "constructive" outlook, saying they offer an opportunity amid a "challenging" interest rate environment. Lee assigned a Buy rating to Annaly Capital Management (NLY) with a $10 price target, Chimera Investment (CIM) with a $21 price target, MFA Financial (MFA) with a $8 price target and Two Harbors Investment (TWO) with a $15 price target, while also starting AGNC Investment (AGNC) at Outperform with a $16 price target. The analyst contends that the housing market conditions remain "favorable" with continued home price appreciation and mortgage delinquencies still being very benign, which benefits the mortgage credit industry. Lee also notes that opportunities for mortgage REITs to deploy capital with attractive risk-adjusted returns still exist and the shares are attractive to yield-oriented investors looking for low betas. Among the names listed, the analyst sees Annaly Capital Management as his "favorite idea" thanks to its diversified investment strategy, while noting that AGNC Investment is constrained by higher relative sensitivity to interest rate risk.
10/02/19
RBCM
10/02/19
INITIATION
RBCM
Outperform
Annaly Capital initiated with an Outperform at RBC Capital
IVZ Invesco
$15.76

0.12 (0.77%)

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.
10/07/19
BMOC
10/07/19
INITIATION
BMOC
Market Perform
Invesco initiated with a Market Perform at BMO Capital
10/10/19
WELS
10/10/19
NO CHANGE
Target $17
WELS
Market Perform
Invesco price target lowered to $17 from $23 at Wells Fargo
Wells Fargo analyst Christopher Harris lowered his price target for Invesco to $17 from $23 given more conservative forecasts for fee rates and fund flows. The analyst reiterates a Market Perform rating on the shares.
09/12/19
09/12/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Square (SQ) assumed with a Hold from Buy at Canaccord with analyst Joseph Vafi saying the stock will continue to react to changes in payment volume growth, which has been showing steady deceleration. 2. Deere (DE) and Caterpillar (CAT) were downgraded to Market Perform from Outperform at Wells Fargo. 3. Prudential (PRU) downgraded to Buy from Conviction Buy at Goldman Sachs with analyst Alex Scott saying Voya Financial (VOYA) has a better ability to beat earnings estimates in the near term as well as in 2020 and 2021 relative to Prudential. 4. Invesco (IVZ) downgraded to Neutral from Overweight at JPMorgan with analyst Kenneth Worthington saying continued Oppenheimer outflows "show few signs of slowing," making it unlikely for the stock to outperform despite a cheap valuation. 5. DXC Technology (DXC) was downgraded to In Line from Outperform at Evercore ISI and to Neutral from Positive at Susquehanna. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
D Dominion
$82.18

-0.2 (-0.24%)

10/07/19
EVER
10/07/19
NO CHANGE
EVER
In Line
SCOTUS agreeing to hear ACP case positive for Duke, Dominion, says Evercore ISI
Evercore ISI analyst Greg Gordon noted that the Supreme Court announced that they had granted the Atlantic Coast Pipeline petition for writs of certiorari and will hear the challenge to a lower court's decision that the US Forest Service had erred in granting ACP a permit to cross the Appalachian Trail. He sees this news as an incremental positive for Duke Energy (DUK) and Dominion (D), who he notes are the largest co-owners in ACP, though the risk remains that SCOTUS, which will likely issue a decision by the middle of next year, doesn't rule on ACP's side. Gordon raised his price target on Dominion shares to $75 from $73 and keeps In Line ratings on both Duke and Dominion.
08/07/19
MSCO
08/07/19
INITIATION
Target $81
MSCO
Equal Weight
Dominion resumed with an Equal Weight at Morgan Stanley
Morgan Stanley analyst Stephen Byrd resumed coverage of Dominion with an Equal Weight rating and $81 price target, citing his view that the stock reflects pessimism on two fronts. The first of those, fears about a low probability of success in completing its large Atlantic Coast Pipeline project, is warranted, Byrd contends. The second, namely pessimism about the quality of Dominion's gas infrastructure business, is unwarranted, as the "very high quality" of these assets is not adequately reflected in the stock, argues Byrd.
08/01/19
WOLF
08/01/19
UPGRADE
WOLF
Outperform
Dominion upgraded to Outperform from Peer Perform at Wolfe Research
08/01/19
FBCO
08/01/19
UPGRADE
Target $82
FBCO
Outperform
Dominion upgraded to Outperform with $82 price target at Credit Suisse
Credit Suisse analyst Michael Weinstein upgraded Dominion Energy to Outperform from Neutral while lowering his price target for the shares to $82 from $83. The analyst sees "compelling value" and lower risk following the company's Q2 results.

TODAY'S FREE FLY STORIES

01:45
11/20/19
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General news
Asian Market Update: »

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General news
Japan exports slumped 9.2% y/y in October, »

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ESYJY

easyJet

$0.00

(0.00%)

20:35
11/19/19
11/19
20:35
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20:35
Initiation
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MSEX

Middlesex Water

$62.07

1.5 (2.48%)

20:31
11/19/19
11/19
20:31
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20:31
Syndicate
Middlesex Water 661K share Spot Secondary priced at $60.50 »

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  • 20

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DLAKY

Lufthansa

$0.00

(0.00%)

20:29
11/19/19
11/19
20:29
11/19/19
20:29
Initiation
Lufthansa initiated at Goldman Sachs »

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TGT

Target

$110.86

0.27 (0.24%)

, LOW

Lowe's

$113.41

-1.62 (-1.41%)

20:25
11/19/19
11/19
20:25
11/19/19
20:25
Earnings
Notable companies reporting before tomorrow's open »

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TGT

Target

$110.86

0.27 (0.24%)

LOW

Lowe's

$113.41

-1.62 (-1.41%)

NTES

NetEase

$288.77

-1.33 (-0.46%)

CPRT

Copart

$86.33

0.32 (0.37%)

LB

L Brands

$17.19

-0.67 (-3.75%)

03/08/13
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ICAGY

IAG

$0.00

(0.00%)

20:23
11/19/19
11/19
20:23
11/19/19
20:23
Initiation
IAG initiated at Goldman Sachs »

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RYAAY

Ryanair

$86.27

0.52 (0.61%)

20:20
11/19/19
11/19
20:20
11/19/19
20:20
Initiation
Ryanair initiated at Goldman Sachs »

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LXFR

Luxfer

$17.57

0.16 (0.92%)

20:11
11/19/19
11/19
20:11
11/19/19
20:11
Initiation
Luxfer initiated at B. Riley FBR »

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VAL

Valaris

$3.69

-0.515 (-12.26%)

20:09
11/19/19
11/19
20:09
11/19/19
20:09
Initiation
Valaris initiated at Deutsche Bank »

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RIG

Transocean

$4.66

-0.16 (-3.32%)

20:03
11/19/19
11/19
20:03
11/19/19
20:03
Initiation
Transocean initiated at Deutsche Bank »

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03/08/13
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03/08/13
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03/06/13
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FTI

TechnipFMC

$19.29

-0.24 (-1.23%)

19:58
11/19/19
11/19
19:58
11/19/19
19:58
Initiation
TechnipFMC initiated at Deutsche Bank »

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SLB

Schlumberger

$34.31

-0.36 (-1.04%)

19:53
11/19/19
11/19
19:53
11/19/19
19:53
Initiation
Schlumberger initiated at Deutsche Bank »

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PTEN

Patterson-UTI

$8.49

-0.095 (-1.11%)

19:45
11/19/19
11/19
19:45
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19:45
Initiation
Patterson-UTI initiated at Deutsche Bank »

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SAFE

Safehold

$34.59

-1.33 (-3.70%)

19:38
11/19/19
11/19
19:38
11/19/19
19:38
Syndicate
Safehold 3M share Secondary priced at $34.00 »

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HP

Helmerich & Payne

$38.39

-0.45 (-1.16%)

19:36
11/19/19
11/19
19:36
11/19/19
19:36
Initiation
Helmerich & Payne initiated at Deutsche Bank »

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HAL

Halliburton

$19.89

-0.26 (-1.29%)

19:31
11/19/19
11/19
19:31
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Initiation
Halliburton initiated at Deutsche Bank »

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  • 21

    Jan

BKR

Baker Hughes

$22.01

-0.155 (-0.70%)

19:24
11/19/19
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Initiation
Baker Hughes initiated at Deutsche Bank »

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PHAT

Phathom Pharmaceuticals

$24.79

-0.09 (-0.36%)

19:23
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Initiation
Phathom Pharmaceuticals initiated at Evercore ISI »

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SHW

Sherwin-Williams

$584.48

-1.13 (-0.19%)

19:20
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Sherwin-Williams rating change at Edward Jones »

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SPY

SPDR S&P 500 ETF Trust

$311.95

-0.06 (-0.02%)

, SPX

S&P 500

$0.00

(0.00%)

19:17
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Periodicals
Commerce Sec Ross says China trade talks still work in progress, Bloomberg says »

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SPDR S&P 500 ETF Trust

$311.95

-0.06 (-0.02%)

SPX

S&P 500

$0.00

(0.00%)

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BRY

Berry Petroleum

$8.90

-2.405 (-21.27%)

19:10
11/19/19
11/19
19:10
11/19/19
19:10
Downgrade
Berry Petroleum rating change at KeyBanc »

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NYMT

New York Mortgage

$6.25

0.015 (0.24%)

19:05
11/19/19
11/19
19:05
11/19/19
19:05
Syndicate
New York Mortgage 25M share Spot Secondary priced at $6.10 »

The deal priced below the…

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  • 20

    Nov

LNG

Cheniere Energy

$59.77

-0.69 (-1.14%)

19:01
11/19/19
11/19
19:01
11/19/19
19:01
Hot Stocks
Cheniere Energy CEO buys 8.4K shares of common stock »

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  • 04

    Dec

SQ

Square

$66.43

0.68 (1.03%)

18:57
11/19/19
11/19
18:57
11/19/19
18:57
Hot Stocks
Square CFO: Our mission is economic empowerment »

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03/08/13
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  • 20

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