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CAT

Caterpillar

$133.69

1.47 (1.11%)

08:52
10/23/19
10/23
08:52
10/23/19
08:52

Caterpillar sees mid single decline in sales in Q4

  • 23

    Oct

  • 04

    Nov

CAT Caterpillar
$133.69

1.47 (1.11%)

10/11/19
FBCO
10/11/19
NO CHANGE
Target $149
FBCO
Outperform
Caterpillar price target lowered to $149 after dealer survey at Credit Suisse
Credit Suisse analyst Jamie Cook said 35% of Caterpillar dealers surveyed by the firm cited risks, albeit modest, to full year estimates, while the rest reiterated prior forecasts calling for demand to be flat to up 5%. In the U.S., used pricing remains fairly stable and dealer inventory is slightly elevated in certain regions, Cook said he found. For 2020, however, the outlook is now seen as worse, projected to be down 5%-10% compared to last quarter's forecast of flat to down 5%, the analyst noted. He lowered his FY19-FY21 EPS forecasts in response to the further deterioration in the survey results and weaker industrial data more broadly, causing him to cut his price target for Caterpillar shares to $149 from $165. Cook keeps an Outperform rating on Caterpillar.
10/18/19
MSCO
10/18/19
DOWNGRADE
Target $145
MSCO
Equal Weight
Caterpillar downgraded to Equal Weight from Overweight at Morgan Stanley
Morgan Stanley analyst Courtney Yakavonis downgraded Caterpillar to Equal Weight from Overweight with a $145 price target.
10/18/19
MSCO
10/18/19
DOWNGRADE
Target $145
MSCO
Equal Weight
Morgan Stanley downgrades Caterpillar, sees 2020 declines for two biggest units
As previously reported, Morgan Stanley analyst Courtney Yakavonis downgraded Caterpillar to Equal Weight from Overweight with a price target of $145, down from $150. She believes that the U.S. Construction Equipment market peaked in 2019 and that Energy & Transportation, or E&T, markets will fail to re-accelerate in 2020, leading Yakavonis to now expect negative growth in the company's two largest business segments in 2020 as well as less upside in Resources. Her sales and EPS estimates are 4% and 2%, respectively, below consensus, and her updated estimates now call for a mild year-over-year earnings decline in 2020, Yakavonis tells investors.
10/18/19
10/18/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Gildan Activewear (GIL) downgraded to Sell from Buy at Desjardins, to Hold from Buy at Stifel, and to Underperform from Buy at BofA/Merrill. 2. Caterpillar (CAT) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Courtney Yakavonis saying she believes that the U.S. Construction Equipment market peaked in 2019 and that Energy & Transportation, or E&T, markets will fail to re-accelerate in 2020. 3. Charles River (CRL) downgraded to Neutral from Buy at BofA/Merrill with analyst Juan Avendano saying the company's acquisition growth opportunities "seem less compelling" going forward. 4. Macy's (M), Gap (GPS), and L Brands (LB) downgraded to Underperform from Neutral at Credit Suisse. 5. Waste Management (WM) downgraded to Neutral from Buy at BofA/Merrill and to Sector Weight from Overweight at KeyBanc. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

07:40
11/19/19
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07:40
General news
Treasury Market Outlook: trading was pretty quiet overnight »

Treasury Market Outlook:…

FLT

FleetCor

$298.35

1.19 (0.40%)

07:39
11/19/19
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07:39
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07:39
Conference/Events
FleetCor management to meet with BTIG »

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PRIM

Primoris

$21.34

-0.31 (-1.43%)

07:38
11/19/19
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07:38
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07:38
Hot Stocks
Primoris announces industrial awards valued over $30M »

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AFMD

Affimed N.V.

$2.43

-0.045 (-1.82%)

07:37
11/19/19
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Hot Stocks
Affimed N.V. expects cash, cash equivalents to fund operations into 4Q21 »

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  • 19

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ECL

Ecolab

$191.28

-0.45 (-0.23%)

07:37
11/19/19
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07:37
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07:37
Conference/Events
Ecolab management to meet with Jefferies »

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AFMD

Affimed N.V.

$2.43

-0.045 (-1.82%)

07:37
11/19/19
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07:37
Hot Stocks
Affimed N.V. appoints Cassandra Choe-Juliak as acting CMO »

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  • 19

    Nov

AFMD

Affimed N.V.

$2.43

-0.045 (-1.82%)

07:35
11/19/19
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Hot Stocks
Affimed N.V. plans preclinical studies for AFM28, AFM32 in 2020 »

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  • 19

    Nov

FB

Facebook

$197.45

2.38 (1.22%)

, BMY

Bristol-Myers

$57.62

-0.99 (-1.69%)

07:35
11/19/19
11/19
07:35
11/19/19
07:35
Options
Unusual call flow in option market yesterday »

Notable call activity was…

FB

Facebook

$197.45

2.38 (1.22%)

BMY

Bristol-Myers

$57.62

-0.99 (-1.69%)

LK

Luckin Coffee

$28.17

1.11 (4.10%)

03/08/13
Wedge Partners
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PTON

Peloton

$30.22

2.94 (10.78%)

07:34
11/19/19
11/19
07:34
11/19/19
07:34
Recommendations
Peloton analyst commentary  »

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  • 09

    Dec

MXL

MaxLinear

$19.84

-0.2 (-1.00%)

07:34
11/19/19
11/19
07:34
11/19/19
07:34
Upgrade
MaxLinear rating change  »

MaxLinear upgraded to Buy…

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ESL

Esterline

$0.00

(0.00%)

07:34
11/19/19
11/19
07:34
11/19/19
07:34
Conference/Events
Esterline management to meet with Jefferies »

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AFMD

Affimed N.V.

$2.43

-0.045 (-1.82%)

07:33
11/19/19
11/19
07:33
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07:33
Hot Stocks
Affimed N.V. to initiate Phase 1/2a study of AFM24 in 1Q20 »

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  • 19

    Nov

MBRX

Moleculin Biotech

$1.04

(0.00%)

07:32
11/19/19
11/19
07:32
11/19/19
07:32
Hot Stocks
Moleculin Biotech reports preliminary data from clinical trial of WP1220 »

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YGYI

Youngevity

07:32
11/19/19
11/19
07:32
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07:32
Recommendations
Youngevity analyst commentary  »

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HP

Helmerich & Payne

$38.84

-1.72 (-4.24%)

07:32
11/19/19
11/19
07:32
11/19/19
07:32
Downgrade
Helmerich & Payne rating change  »

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VTR

Ventas

$58.35

0.1 (0.17%)

07:32
11/19/19
11/19
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07:32
Upgrade
Ventas rating change  »

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AFMD

Affimed N.V.

$2.43

-0.045 (-1.82%)

07:32
11/19/19
11/19
07:32
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07:32
Earnings
Affimed N.V. reports Q3 EPS (EUR0.17) vs. (EUR0.19) last year »

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  • 19

    Nov

PGNY

Progyny

$24.89

1.095 (4.60%)

07:31
11/19/19
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07:31
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07:31
Initiation
Progyny initiated  »

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CINF

Cincinnati Financial

$107.85

0.84 (0.78%)

07:31
11/19/19
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07:31
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Conference/Events
Cincinnati Financial management to meet with Buckingham »

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  • 19

    Nov

TSM

TSMC

$53.41

0.12 (0.23%)

, RVLV

Revolve Group

$15.15

-0.315 (-2.04%)

07:30
11/19/19
11/19
07:30
11/19/19
07:30
Options
Unusual put flow in option market yesterday »

Notable put activity was…

TSM

TSMC

$53.41

0.12 (0.23%)

RVLV

Revolve Group

$15.15

-0.315 (-2.04%)

03/08/13
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SAGE

Sage Therapeutics

$145.61

-0.75 (-0.51%)

07:29
11/19/19
11/19
07:29
11/19/19
07:29
Recommendations
Sage Therapeutics analyst commentary  »

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CHE

Chemed

$414.70

7.7 (1.89%)

07:29
11/19/19
11/19
07:29
11/19/19
07:29
Conference/Events
Chemed management to meet with Oppenheimer »

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  • 19

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VRCA

Verrica Pharmaceuticals

$14.35

-0.35 (-2.38%)

07:29
11/19/19
11/19
07:29
11/19/19
07:29
Hot Stocks
Verrica Pharmaceuticals announces passing of board member Glenn Oclassen »

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FTNT

Fortinet

$103.80

2.31 (2.28%)

07:28
11/19/19
11/19
07:28
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07:28
Recommendations
Fortinet analyst commentary  »

Fortinet price target…

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    Dec

AVGO

Broadcom

$310.95

-1.86 (-0.59%)

07:27
11/19/19
11/19
07:27
11/19/19
07:27
Upgrade
Broadcom rating change  »

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  • 12

    Dec

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