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OC

Owens Corning

$65.31

1.08 (1.68%)

, MHK

Mohawk

$137.57

4.975 (3.75%)

05:30
01/16/20
01/16
05:30
01/16/20
05:30

JPMorgan downgrades Owens Corning to Underweight, upgrades Mohawk to Neutral

JPMorgan analyst Michael Rehaut downgrades Owens Corning (OC) to Underweight from Neutral while upgrading Mohawk Industries (MHK) to Neutral from Underweight. His top picks in Building Products remain Stanley Black & Decker (SWK) and Fortune Brands (FBHS). Rehaut's conversations with both the buy-side and sell-side point to an "overly optimistic view" of Owens Corning's earnings power this year, both as it relates to the potential benefit in its Roofing segment from IMO 2020, as well as the growth prospects across its other segments. The analyst downgrades the shares and notes his estimates are well below the Street. Rehaut's upgrade of Mohawk to Neutral follows the stock's "material" level of underperformance since 2018, which he believes results in a "reasonable to relatively inexpensive valuation."

OC

Owens Corning

$65.31

1.08 (1.68%)

MHK

Mohawk

$137.57

4.975 (3.75%)

SWK

Stanley Black & Decker

$167.12

0.49 (0.29%)

FBHS

Fortune Brands

$69.03

0.995 (1.46%)

  • 29

    Jan

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    Jan

  • 29

    Jan

  • 14

    Feb

OC Owens Corning
$65.31

1.08 (1.68%)

01/16/20
JPMS
01/16/20
DOWNGRADE
Target $58
JPMS
Underweight
Owens Corning downgraded to Underweight from Neutral at JPMorgan
JPMorgan analyst Michael Rehaut downgraded Owens Corning to Underweight from Neutral with a $58 price target.
01/14/20
BREN
01/14/20
INITIATION
Target $68
BREN
Hold
Owens Corning initiated with a Hold at Berenberg
Berenberg analyst Daniel Wang initiated coverage of Owens Corning with a Hold rating and $68 price target.
01/07/20
LOOP
01/07/20
INITIATION
Target $76
LOOP
Buy
Owens Corning initiated with a Buy at Loop Capital
Loop Capital analyst Garik Shmois initiated coverage of Owens Corning with a Buy rating and $76 price target. In a research note to investors, Shmois says he sees several catalysts into FY20 that should drive the shares higher. The analyst says that insulation should benefit from tighter capacity utilization from curtailments that the company took in 2019, and sees easy storm comps and declining asphalt costs as driving volumes strength and margin expansion in roofing, respectively, in 2020. Further, he said that a more stable input cost environment and stabilizing global macro picture should also lower downside risk of the company's international-focused technical insulation and composites businesses.
01/06/20
LOOP
01/06/20
INITIATION
Target $76
LOOP
Buy
Owens Corning initiated with a Buy at Loop Capital
Loop Capital analyst Garik Shmois initiated coverage of Owens Corning with a Buy rating and $76 price target.
MHK Mohawk
$137.57

4.975 (3.75%)

11/12/19
JEFF
11/12/19
NO CHANGE
Target $180
JEFF
Buy
Click flooring tariff exclusion 'modest negative' for Mohawk, says Jefferies
The U.S. Trade Representative announced click luxury vinyl tile imported from China has been excluded from List 3 tariffs, which makes up most of the rigid LVT market and the growth, Jefferies analyst Philip Ng tells investors in a research note. The analyst views the news as a "modest negative" for Mohawk Industries, saying the tariffs would have made the U.S. manufacturers more cost competitive. Ng keeps a Buy rating on Mohawk with a $180 price target.
12/06/19
GSCO
12/06/19
INITIATION
Target $165
GSCO
Buy
Mohawk initiated with a Buy at Goldman Sachs
Goldman Sachs analyst Susan Maklari initiated coverage of Mohawk Industries with a Buy rating and $165 price target. While Mohawk has faced various operating and demand challenges over the last two years, it is "closer to turning a corner," Maklari tells investors in a research note. She looks for the stock to "re-rate higher" as the results of management's efforts come through.
11/20/19
DBAB
11/20/19
INITIATION
DBAB
Hold
Mohawk initiated with a Hold at Deutsche Bank
Deutsche Bank initiated coverage of Mohawk Industries with a Hold rating.
01/16/20
JPMS
01/16/20
UPGRADE
Target $136
JPMS
Neutral
Mohawk upgraded to Neutral from Underweight at JPMorgan
JPMorgan analyst Michael Rehaut upgraded Mohawk Industries to Neutral from Underweight with a $136 price target.
SWK Stanley Black & Decker
$167.12

0.49 (0.29%)

01/03/20
LBOW
01/03/20
NO CHANGE
LBOW
Buy
Longbow lists Martin Marietta, Vulcan among best 2020 building long ideas
Longbow analyst David MacGregor highlighted Martin Marietta (MLM), Vulcan Materials (VMC), Summit Materials (SUM), Stanley Black & Decker (SWK) and Whirlpool (WHR) as his best long recommendations for 2020 among his building products and construction material coverage. He keeps Buy ratings on each of these five, which he expects to grow earnings at a faster pace than their respective categories.
12/05/19
LEHM
12/05/19
NO CHANGE
Target $175
LEHM
Overweight
Stanley Black & Decker price target raised to $175 from $161 at Barclays
Barclays analyst Julian Mitchell raised his price target for Stanley Black & Decker to $175 from $161 after hosting investor meetings with CFO Don Allen earlier this week. The analyst came away more confident that the company's earnings downgrade revision cycle of the past two years is drawing to a close. This should enable Stanley to retrace its underperformance since the 2017 highs, Mitchell tells investors in a research note. He believes the company can generate at least mid-single-digit earnings growth in 2020, hitting the Street estimate, assuming no tariff relief, no benefits from margin resiliency efforts, limited input cost tailwinds, no Industrial recovery, and limited capital deployment. Mitchell keeps an Overweight rating on Stanley Black & Decker.
12/11/19
MSCO
12/11/19
NO CHANGE
MSCO
Morgan Stanley upgrades U.S. Multi-Industry view to Attractive, ups three stock
Morgan Stanley analyst Joshua Pokrzywinski upgraded his industry view on the U.S. Multi-Industry sector to Attractive from In-Line, as he believes expectations around capital spending are quite low despite several years of underinvestment, sees limited excess capacity, and sees signals that improvement in trade is likely to release pent-up demand in the economy. He believes all three of his top picks in the Electrical Equipment and Multi-Industry sector - namely Fortive (FTV), Emerson (EMR) and Gardner Denver (GDI) - capture those cyclical tailwinds as well as having "idiosyncratic rerating stories," Pokrzywinski tells investors. He also upgraded Rockwell Automation (ROK) and Grainger (GWW), each to Equal Weight from Underweight, as he believes a firming cycle warrants a more constructive view on cyclical names. Other stocks in the sector mentioned by Pokrzywinski in his note include Parker-Hannifin (PH), Allegion (ALLE), Eaton (ETN), Hubbell (HUBB), Dover (DOV), Ametek (AME), Fastenal (FAST) and Stanley Black & Decker (SWK).
12/12/19
UBSW
12/12/19
INITIATION
Target $200
UBSW
Buy
Stanley Black & Decker initiated with a Buy at UBS
UBS analyst Markus Mittermaier initiated coverage of Stanley Black & Decker with a Buy rating and $200 price target. The analyst believes that the company will see a stronger T&S brand growth as well as "troughing" in its fasteners and upside in the MTD Products business acquired last year.
FBHS Fortune Brands
$69.03

0.995 (1.46%)

12/17/19
12/17/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Pentair (PNR) downgraded to Hold from Buy at Stifel with analyst Nathan Jones saying Pentair's 2020 prospects look improved over 2019 where discrete headwinds, particularly in the Aquatics business, create easy comparisons in the first half of 2020. 2. Alcoa (AA) downgraded to Market Perform from Outperform at BMO Capital with analyst David Gagliano saying BMO's reduced aluminum price forecasts for the entirety of the aluminum supply chain leave "little incremental upside potential" moving forward in the underlying price forecasts. 3. SciPlay (SCPL) was double downgraded to Sell from Buy at Goldman Sachs while Groupon (GRPN) was downgraded to Sell from Neutral. 4. Lennar (LEN) and Fortune Brands (FBHS) were downgraded to Sector Perform from Outperform at RBC Capital while D.R. Horton (DHI) was downgraded to Underperform from Sector Perform. 5. Alexion (ALXN) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Matthew Harrison saying while he thinks the company can effectively transition Soliris to Ultomiris and maintain its large and emerging neurology franchise, he does not see the "major overhang of concentration risk" as one the company will be able to address in the near-term. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/07/20
BOFA
01/07/20
DOWNGRADE
BOFA
Neutral
Fortune Brands downgraded to Neutral from Buy at BofA
BofA downgraded Fortune Brands to Neutral from Buy.
01/07/20
BOFA
01/07/20
DOWNGRADE
Target $71
BOFA
Neutral
Fortune Brands downgraded to Neutral on valuation at BofA
As previously reported, BofA analyst John Lovallo downgraded Fortune Brands to Neutral from Buy on valuation as the stock nears his $71 price target.
12/17/19
RBCM
12/17/19
DOWNGRADE
Target $67
RBCM
Sector Perform
Fortune Brands downgraded to Sector Perform from Outperform at RBC Capital
RBC Capital analyst Michael Dahl downgraded Fortune Brands to Sector Perform from Outperform with a $67 price target. The analyst is citing the company's valuation, with the stock turning into a "consensus buy-side long". Dahl believes that expectations may have become "too optimistic" in reflecting the near-term trajectory of the cabinets business following the antidumping tariffs.

TODAY'S FREE FLY STORIES

AMZN

Amazon.com

$1,887.32

-4.96 (-0.26%)

17:43
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17:43
Periodicals
U.N. experts demand investigation into alleged Bezos hack, Reuters says »

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  • 27

    Jan

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    Feb

BYND

Beyond Meat

$122.48

-6.76 (-5.23%)

17:43
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Initiation
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HAIN

Hain Celestial

$25.48

(0.00%)

17:41
01/22/20
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Initiation
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MKC

McCormick

$172.54

1.34 (0.78%)

17:38
01/22/20
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17:38
Initiation
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  • 28

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    Feb

POST

Post Holdings

$110.10

-1.805 (-1.61%)

17:38
01/22/20
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Initiation
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  • 30

    Jan

  • 07

    Feb

NOC

Northrop Grumman

$375.48

-2.53 (-0.67%)

17:36
01/22/20
01/22
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17:36
Hot Stocks
Northrop Grumman awarded $217.16M Air Force contract modification »

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  • 30

    Jan

PVBC

Provident Bancorp

$12.40

0.06 (0.49%)

17:36
01/22/20
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17:36
Hot Stocks
Provident Bancorp subsidiary acquires ResX Warehouse Lending »

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BRBR

BellRing Brands

$22.71

-0.26 (-1.13%)

17:34
01/22/20
01/22
17:34
01/22/20
17:34
Initiation
BellRing Brands initiated  »

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  • 07

    Feb

GVA

Granite Construction

$26.57

-0.19 (-0.71%)

17:32
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17:32
Hot Stocks
Granite Construction awarded $14M contract by San Bernardino County »

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GVA

Granite Construction

$26.57

-0.19 (-0.71%)

17:31
01/22/20
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17:31
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17:31
Hot Stocks
Granite Construction awarded $14M interesection improvement project in SC »

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MDLZ

Mondelez

$55.47

-0.1 (-0.18%)

17:31
01/22/20
01/22
17:31
01/22/20
17:31
Initiation
Mondelez initiated  »

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  • 29

    Jan

  • 17

    Feb

BFRA

Biofrontera

$10.89

(0.00%)

17:30
01/22/20
01/22
17:30
01/22/20
17:30
Syndicate
Breaking Syndicate news story on Biofrontera »

Biofrontera files $100M…

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SMPL

Simply Good Foods

$24.96

-0.17 (-0.68%)

17:29
01/22/20
01/22
17:29
01/22/20
17:29
Initiation
Simply Good Foods initiated  »

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  • 22

    Jan

HZNP

Horizon Therapeutics

$38.54

0.28 (0.73%)

17:28
01/22/20
01/22
17:28
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17:28
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NEJM publishes data from Horizon Therapeutics Optic trial of Tepezza »

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  • 08

    Mar

  • 29

    Apr

CHMG

Chemung Financial

$42.20

(0.00%)

17:26
01/22/20
01/22
17:26
01/22/20
17:26
Earnings
Chemung Financial reports Q4 EPS 87c, consensus $1.04 »

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CLGX

CoreLogic

$44.99

-0.365 (-0.80%)

17:26
01/22/20
01/22
17:26
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17:26
Earnings
CoreLogic sees FY19 free cash flow exceeding 50% of adjusted EBITDA »

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  • 21

    Feb

  • 09

    Mar

NOMD

Nomad Foods

$20.63

0.075 (0.36%)

17:24
01/22/20
01/22
17:24
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17:24
Initiation
Nomad Foods initiated  »

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  • 17

    Feb

CCNE

CNB Financial

$31.13

-0.2 (-0.64%)

17:24
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Breaking Syndicate news story on CNB Financial »

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CLGX

CoreLogic

$44.99

-0.365 (-0.80%)

17:24
01/22/20
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Earnings
CoreLogic sees FY19 guidance 'modestly' exceeding previous outlook »

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  • 21

    Feb

  • 09

    Mar

CLGX

CoreLogic

$44.99

-0.365 (-0.80%)

17:20
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Earnings
Breaking Earnings news story on CoreLogic »

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  • 21

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    Mar

TWNK

Hostess Brands

$13.83

-0.06 (-0.43%)

17:19
01/22/20
01/22
17:19
01/22/20
17:19
Initiation
Hostess Brands initiated  »

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  • 04

    Mar

PAYC

Paycom

$303.73

3.96 (1.32%)

, WCG

WellCare

$345.79

5.27 (1.55%)

17:18
01/22/20
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17:18
Hot Stocks
Paycom to replace WellCare in S&P 500 at open on 1/28 »

Centene (CNC) is…

PAYC

Paycom

$303.73

3.96 (1.32%)

WCG

WellCare

$345.79

5.27 (1.55%)

CNC

Centene

$66.72

1.24 (1.89%)

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  • 04

    Feb

  • 13

    Feb

AMRN

Amarin

$20.82

-0.24 (-1.14%)

17:18
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Amarin says payers response on new Vascepa indication 'very positive' »

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WAFD

Washington Federal

$35.35

-0.32 (-0.90%)

17:17
01/22/20
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17:17
Hot Stocks
Washington Federal increases quarterly cash dividend 5% to 22c per share »

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  • 22

    Jan

  • 24

    Feb

FBNC

First Bancorp

$37.42

-0.37 (-0.98%)

17:16
01/22/20
01/22
17:16
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17:16
Earnings
First Bancorp reports Q4 EPS 71c, consensus 78c »

Net interest income for…

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