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GE

General Electric

$11.52

0.235 (2.08%)

, CRM

Salesforce

$161.13

1.635 (1.03%)

09:43
11/09/19
11/09
09:43
11/09/19
09:43

Honeywell's shift to software has upside, Barron's says

Honeywell (HON) CEO Darius Adamczyk is transforming the company into an industrial-software company, with a business closer to Salesforce.com (CRM) than its industrial conglomerate peers, according to Barron's Al Root. The plan is getting traction, Root added, noting that total software sales over the past year were about $4B, with $1.5B of that coming from new Industrial Internet of Things, or IIoT, applications. Adamczyk said the company plans to expand its software business "at a double-digit rate for the foreseeable future." Root said that there is "enormous upside" if Honeywell gets it right, but no guarantee they will, citing GE (GE) as a cautionary tale. But even if "Honeywell's software ambitions aren't fully realized, then investors are left with a great industrial asset with high market share and solid profit margins," concluded Root. Reference Link

GE

General Electric

$11.52

0.235 (2.08%)

CRM

Salesforce

$161.13

1.635 (1.03%)

HON

Honeywell

$181.21

1.54 (0.86%)

  • 19

    Nov

  • 02

    Dec

  • 03

    Dec

  • 16

    Dec

  • 29

    Jan

GE General Electric
$11.52

0.235 (2.08%)

11/05/19
MSCO
11/05/19
NO CHANGE
Target $11
MSCO
Equal Weight
General Electric tail risk 'appears much smaller' after Q3, says Morgan Stanley
Morgan Stanley analyst Joshua Pokrzywinski said the significant tail risk from Long Term Care and pensions at General Electric "appears much smaller" after the "trimming of the tails" with its third quarter report. Having addressed the tail risk with a positive update on pension and LTC, the question then turns to how quickly can performance accelerate and while he sees the risk/reward "evolving more favorably," he also sees little change to core earnings power or secular growth. Pokrzywinski keeps an Equal Weight rating on GE shares and raised his price target on the stock to $11 from $10.
11/04/19
LEHM
11/04/19
NO CHANGE
Target $12
LEHM
Overweight
Investors may start looking at GE with bull case becoming clearer, says Barclays
General Electric's Q3 contained "no nasty surprises" from legacy liabilities along with "some clear signs of progress amidst the house-cleaning," Barclays analyst Julian Mitchell tells investors in a research note. The analyst believes this will likely cause more long-term investors to start to take a closer look at GE during the second year of CEO Larry Culp's tenure. With GE's free cash flow bull case becoming clearer, long-term investors may start to take a look, says Mitchell. The analyst keeps an Overweight rating on General Electric shares with a $12 price target. The stock closed Friday up 40c to $10.38.
11/01/19
JPMS
11/01/19
NO CHANGE
Target $5
JPMS
Underweight
JPMorgan's Tusa says GE results don't change view, price target remains $5
JPMorgan analyst Stephen Tusa says there is no change to his view of General Electric coming away from the Q3 results. "At a simplified headline level, there was no smoking gun, though the underlying details show a situation that is far from low risk," Tusa tells investors in a post-earnings research note. The analyst points out that even at the high end of GE's new free cash flow range, or a base of 23c per share, its free cash flow yield is 2%. This suggests that "stability is already more than discounted," says Tusa, who keeps an Underweight rating on General Electric with a $5 price target. The stock closed Thursday down 13c to $9.98.
11/05/19
GABE
11/05/19
NO CHANGE
GABE
Buy
Gabelli recommends buying General Electric shares after Q3 report
Gabelli analyst Justin Bergner recommends buying General Electric shares following the company's Q3 report, which he said featured a "benign" insurance update as well as better than expected free cash flow and EPS guidance. He sees the report further reducing the potential for future negative surprises and "helping close the discount" to his unchanged $17 2020 Private Market Value. Bergner keeps a Buy rating on GE shares.
CRM Salesforce
$161.13

1.635 (1.03%)

10/31/19
BARD
10/31/19
NO CHANGE
Target $185
BARD
Outperform
Salesforce compelling entry point seen, elevated to Fresh Pick at Baird
Baird analyst Rob Oliver added a Fresh Pick designation to Salesforce as he sees a compelling entry point. The analyst believes some of the concerns that have contributed to its recent undeprformance including global macro fear, increased M&A, and the lack of margin expansion, are likely to ease in the coming months. Oliver reiterated his OUtperform rating and raised his price target to $185 from $175 on Salesforce shares.
10/09/19
MSCO
10/09/19
NO CHANGE
MSCO
CIOs see continued pressure on IT budgets in 2020, says Morgan Stanley
Morgan Stanley analysts Katy Huberty, James Faucette and Keith Weiss noted that rising economic uncertainty has been reflected in the firm's past several CIO surveys, with 2019 overall IT budget growth expectations falling for 4 straight quarters. In keeping with that trend, 53% of the CIOs surveyed by the firm expect lower IT budget growth in 2020 and their composite initial read on 2020 IT spending calls for a 100 basis points growth deceleration, the firm's U.S. tech team stated in a note to investors. Among those surveyed, Amazon (AMZN) and Microsoft (MSFT) are seen as having taken over the lead in Artificial Intelligence and Machine Learning while IBM (IBM) "maintains strong mind share," the analysts said. The team continues to favor companies they see as well positioned for key secular trends with good valuation, such as Microsoft, Adobe (ADBE) and Salesforce (CRM), while they are more cautious on legacy players at risk of losing share as organizations move to the cloud, like Symantec (SYMC) and VMware (VMW).
10/08/19
JEFF
10/08/19
INITIATION
Target $171
JEFF
Buy
Salesforce assumed with a Buy rating at Jefferies
Jefferies analyst Brent Thill assumed coverage of Salesforce with a Buy rating and unchanged price target of $171. The analyst last night assumed coverage of the Software industry and adjusted some of his ratings to be more defensive in light of valuation and macroeconomic concerns. However, he remains positive on the industry and believes that the fundamentals of businesses in the space are "very strong."
10/21/19
JEFF
10/21/19
NO CHANGE
JEFF
High growth software valuations to contract further, says Jefferies
High growth software valuations are now trading above terminal M&A multiples, suggesting we still have more room for multiple contraction, Jefferies analyst Brent Thill tells investors in a research note. As such, the analyst expects the short term correction will continue "given multiples remain elevated even with last week's correction." Thill favors platform names with attractive growth and reasonable valuations like Microsoft (MSFT), Salesforce (CRM) and Intuit (INTU). He also favors names like SailPoint (SAIL), Zuora (ZUO), and Varonis (VRNS). The analyst believes these names have the potential for revenue reacceleration over the next year.
HON Honeywell
$181.21

1.54 (0.86%)

07/16/19
GSCO
07/16/19
NO CHANGE
GSCO
Goldman does not see favorable setup for Americas Multi-Industry into Q2
Goldman Sachs analyst Joe Ritchie does not see the setup as favorable for the Americas Multi-Industry sector into the Q2 reporting season with the exception of Buy-rated Honeywell (HON). The analyst says fiscal 2020 consensus expectations are too high for a third of the companies he covers while the setup is tough for the second half of 2019 as comps are only easier for five out of 27 stocks "at a time when growth is decelerating." As a result, Ritchie downgraded three cyclical stocks to Sell, namely Cognex (CGNX) and Parker-Hannifin (PH) from Neutral and Kennametal (KMT) double downgraded from Buy. He also upgraded Timken to Buy from Neutral as he believes expectations are more appropriately calibrated and its relative valuation is "compelling."
07/19/19
JEFF
07/19/19
NO CHANGE
Target $195
JEFF
Buy
Honeywell price target raised to $195 from $190 at Jefferies
Jefferies analyst Sheila Kahyaoglu raised her price target for Honeywell to $195 from $190 saying the company delivered 5% organic growth in Q2 with segment profit expanding 9% organically. The analyst raised her out-year estimates on better profitability within Aerospace and keeps a Buy rating on the shares.
07/22/19
ARGS
07/22/19
NO CHANGE
Target $195
ARGS
Buy
Momentum of Honeywell's stock price and earnings to continue, says Argus
Argus analyst John Eade keeps his Buy rating and $195 price target on Honeywell, saying that while the stock has already outperformed the S&P 500 with a 23% run over the past year, he expects that momentum to continue as the company generates low double-digit earnings growth over the next 5 years. The analyst believes that Honeywell stands to benefit from its diverse product lines, its strong presence in the commercial aerospace and commercial construction markets, as well as its "mid-market" product presence in China that is growing in spite of the country's infrastructure slowdown.
09/23/19
GSCO
09/23/19
DOWNGRADE
Target $144
GSCO
Sell
Illinois Tool Works downgraded to Sell from Neutral at Goldman Sachs
Goldman Sachs analyst Joe Ritchie downgraded Illinois Tool Works (ITW) to Sell from Neutral and lowered his price target for the shares to $144 from $147. Given the company's "deteriorating fundamentals," there is downside risk to consensus estimates and its valuation premium relative to Large Cap Defensive peers "appears too high," Ritchie tells investors in a research note. The analyst believes growth in all of Illinois Tool Works' segments could turn negative in Q4 while the return to greater than 2% growth in 2020 "could prove optimistic." Further, after years of transforming the cost structure and driving meaningful margin expansion, the company "has less levers to pull to expand margins," says Ritchie. The analyst continues to view Honeywell (HON) as the best Large Cap Defensive to own.

TODAY'S FREE FLY STORIES

PCG

PG&E

$7.09

-0.32 (-4.32%)

16:50
11/18/19
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16:50
Periodicals
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  • 07

    Jan

GCP

GCP Applied Technologies

$22.04

-0.37 (-1.65%)

16:48
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GCP Applied Technologies files patent infringement suit against AVM Industries »

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DUK

Duke Energy

$88.63

0.05 (0.06%)

16:45
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11/18
16:45
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16:45
Syndicate
Duke Energy files to sell 25M shares of common stock »

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PANW

Palo Alto Networks

$248.50

1.465 (0.59%)

16:45
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Palo Alto Networks initiated  »

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  • 25

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TUFN

Tufin

$17.32

-0.22 (-1.25%)

16:44
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Initiation
Tufin initiated  »

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I

Intelsat

16:43
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11/18
16:43
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16:43
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Intelsat rating change  »

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  • 10

    Dec

CRWD

Crowdstrike

$57.06

-2.73 (-4.57%)

16:43
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11/18
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Initiation
Crowdstrike initiated  »

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  • 05

    Dec

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    Dec

FBHS

Fortune Brands

$63.57

0.53 (0.84%)

16:43
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16:43
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16:43
Hot Stocks
Fortune Brands CEO sells 97.4K shares of common stock »

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SPLK

Splunk

$122.75

3.6 (3.02%)

16:42
11/18/19
11/18
16:42
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16:42
Initiation
Splunk initiated  »

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  • 21

    Nov

ZS

Zscaler

$44.46

-1.37 (-2.99%)

16:41
11/18/19
11/18
16:41
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16:41
Initiation
Zscaler initiated  »

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  • 03

    Dec

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  • 16

    Dec

CAAP

Corporacion America Airport

$3.78

0.02 (0.53%)

16:41
11/18/19
11/18
16:41
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16:41
Hot Stocks
Corporacion America Airport reports October passenger traffic flat y/y »

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  • 22

    Nov

OKTA

Okta

$121.19

3.74 (3.18%)

16:41
11/18/19
11/18
16:41
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16:41
Upgrade
Okta rating change  »

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03/08/13
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  • 05

    Dec

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DG

Dollar General

$160.01

-0.13 (-0.08%)

16:39
11/18/19
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Dollar General to pay $6M to settle discrimination lawsuit brought by EEOC »

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  • 05

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I

Intelsat

$7.98

-5.42 (-40.45%)

16:38
11/18/19
11/18
16:38
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16:38
Recommendations
Intelsat analyst commentary  »

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  • 10

    Dec

GPC

Genuine Parts

$105.38

0.57 (0.54%)

, HDS

HD Supply

$40.24

-0.5 (-1.23%)

16:38
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Hot Stocks
Genuine Parts elects William Stengel chief transformation officer »

Genuine Parts (GPC)…

GPC

Genuine Parts

$105.38

0.57 (0.54%)

HDS

HD Supply

$40.24

-0.5 (-1.23%)

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  • 09

    Dec

MET

MetLife

$49.12

-0.14 (-0.28%)

16:37
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16:37
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16:37
Syndicate
Breaking Syndicate news story on MetLife »

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  • 12

    Dec

ASH

Ashland

$78.65

0.03 (0.04%)

16:36
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Ashland CEO says 'faced more challenging external conditions than anticipated' »

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  • 19

    Nov

ASH

Ashland

$78.65

0.03 (0.04%)

16:35
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Ashland reports preliminary Q4 adjusted cont ops EPS 77c, consensus 95c »

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  • 19

    Nov

VNET

21Vianet

$8.27

0.22 (2.73%)

16:34
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Earnings
21Vianet lowers FY19 revenue growth view to 11.2% from 12% at midpoint »

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  • 18

    Nov

SAEX

SAExploration

$1.53

-0.03 (-1.92%)

, GEOS

Geospace

$13.77

0.31 (2.30%)

16:33
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Geospace receives $12.5M order from SAExploration »

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SAEX

SAExploration

$1.53

-0.03 (-1.92%)

GEOS

Geospace

$13.77

0.31 (2.30%)

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  • 22

    Nov

VNET

21Vianet

$8.27

0.22 (2.73%)

16:33
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16:33
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16:33
Earnings
21Vianet reports Q3 EPS (1c), one estimate (3c) »

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  • 18

    Nov

C

Citi

$74.40

0.02 (0.03%)

, ADS

Alliance Data

$104.71

1.31 (1.27%)

16:31
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Alliance Data names Ralph Andretta president and CEO »

Alliance Data Systems…

C

Citi

$74.40

0.02 (0.03%)

ADS

Alliance Data

$104.71

1.31 (1.27%)

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  • 14

    Jan

16:30
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Options
Preliminary option volume of 18.6M today »

Preliminary option volume…

AGO

Assured Guaranty

$48.76

0.45 (0.93%)

16:28
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16:28
Hot Stocks
Assured Guaranty CIO acquires roughly 25,000 common shares »

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MDU

MDU Resources

$29.10

0.08 (0.28%)

16:28
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11/18
16:28
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16:28
Hot Stocks
MDU Resources announces five-year capital investment plan totaling $2.9B »

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