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DOV

Dover

$66.66 /

-4.055 (-5.73%)

, PNR

Pentair

$23.77 /

-0.735 (-3.00%)

07:29
03/23/20
03/23
07:29
03/23/20
07:29

Morgan Stanley cuts Multi-Industry estimates, shakes up ratings with 7 changes

Morgan Stanley analyst Joshua Pokrzywinski said he expects the sudden halt in activity in the U.S. and Europe to drive a hard landing with lasting effects through 2021 and he has cut his 2020 and 2021 earnings estimates for the Mulit-Industry group by another 15% following a 6% cut last week as he contemplates a recession as his base case and "Global Financial Crisis-level" bear case. In that context, he upgraded Dover (DOV) to Overweight from Equal Weight and upgraded Pentair (PNR) to Overweight from Equal Weight as he believes they will have less cyclical risk and better recovery potential. He also upgraded Illinois Tool Works (ITW) to Equal Weight from Underweight, citing its balance sheet and end market resiliency outside of Autos. Pokrzywinski downgraded Emerson Electric (EMR) and Honeywell (HON), each to Equal Weight from Overweight, citing their exposure to "problematic end markets" and a longer recovery horizon. He also downgraded Cognex (CGNX) and Helios (HLIO), both to Underweight from Equal Weight, given each of their combination of high valuation and high decremental margins.

DOV

Dover

$66.66 /

-4.055 (-5.73%)

PNR

Pentair

$23.77 /

-0.735 (-3.00%)

ITW

Illinois Tool Works

$125.64 /

-10.79 (-7.91%)

EMR

Emerson

$43.99 /

-1.83 (-3.99%)

HON

Honeywell

$112.65 /

-6.27 (-5.27%)

CGNX

Cognex

$42.29 /

-1.72 (-3.91%)

HLIO

Helios Technologies

$39.59 /

-4.3 (-9.80%)

  • 23

    Apr

DOV Dover
$66.66 /

-4.055 (-5.73%)

03/23/20 Morgan Stanley
Dover upgraded to Overweight from Equal Weight at Morgan Stanley
12/11/19 Morgan Stanley
Morgan Stanley upgrades U.S. Multi-Industry view to Attractive, ups three stock
11/04/19 BofA
Colfax upgraded to Neutral from Underperform at BofA/Merrill
10/15/19 BofA
Advance Auto Parts added to US 1 List, Dover, Lowe's removed at BofA/Merrill
PNR Pentair
$23.77 /

-0.735 (-3.00%)

03/23/20 Morgan Stanley
Pentair upgraded to Overweight from Equal Weight at Morgan Stanley
01/16/20 Rosenblatt
Pentair initiated with a Buy at Rosenblatt
01/16/20
Fly Intel: Top five analyst upgrades
01/15/20 Goldman Sachs
Pentair upgraded to Buy from Neutral at Goldman Sachs
ITW Illinois Tool Works
$125.64 /

-10.79 (-7.91%)

03/23/20 Morgan Stanley
Illinois Tool Works upgraded to Equal Weight from Underweight at Morgan Stanley
03/17/20 Wells Fargo
Illinois Tool Works price target lowered to $195 from $200 at Wells Fargo
02/04/20 BMO Capital
Illinois Tool Works price target raised to $165 from $150 at BMO Capital
01/14/20 Wells Fargo
Illinois Tool Works price target raised to $200 from $190 at Wells Fargo
EMR Emerson
$43.99 /

-1.83 (-3.99%)

03/23/20 Morgan Stanley
Emerson downgraded to Equal Weight from Overweight at Morgan Stanley
03/12/20 Wolfe Research
Emerson downgraded to Peer Perform from Outperform at Wolfe Research
02/18/20
Fly Intel: Top five analyst downgrades
02/18/20 RBC Capital
Emerson downgraded to Sector Perform from Outperform at RBC Capital
HON Honeywell
$112.65 /

-6.27 (-5.27%)

03/23/20 Daiwa
Daiwa upgrades Honeywell to Outperform on balance sheet, diversification
03/23/20 Morgan Stanley
Honeywell downgraded to Equal Weight from Overweight at Morgan Stanley
03/22/20 Daiwa
Honeywell upgraded to Outperform from Neutral at Daiwa
02/03/20 Credit Suisse
Honeywell price target lowered to $190 from $195 at Credit Suisse
CGNX Cognex
$42.29 /

-1.72 (-3.91%)

03/23/20 Morgan Stanley
Cognex downgraded to Underweight from Equal Weight at Morgan Stanley
12/12/19 UBS
Cognex initiated with a Neutral at UBS
09/23/19 DA Davidson
Cognex price target raised to $45 from $40 at DA Davidson
09/23/19 Cowen
Cognex price target raised to $60 from $50 at Cowen
HLIO Helios Technologies
$39.59 /

-4.3 (-9.80%)

03/23/20 Morgan Stanley
Helios Technologies downgraded to Underweight from Equal Weight at Morgan Stanley
12/17/19 SunTrust
Helios Technologies initiated with a Hold at SunTrust
12/17/19 SunTrust
Helios Technologies initiated with a Hold at SunTrust

TODAY'S FREE FLY STORIES

Earnings
ShockWave Medical withdraws 2020 outlook due to COVID-19 disruptions » 11:35
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SWAV

ShockWave Medical

$30.85 /

+1.37 (+4.65%)

Shockwave Medical this…

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Ally Financial says automotive loans have declined significantly » 11:31
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ALLY

Ally Financial

$13.05 /

+1.07 (+8.93%)

Ally Financial disclosed…

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Conference/Events
WEC Energy participates in a webcast with Wolfe Research » 11:31
04/06/20
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WEC

WEC Energy

$90.00 /

+4.87 (+5.72%)

Utilities Analyst…

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General news
FX Action: USD-JPY » 11:30
04/06/20
04/06
11:30
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11:30

FX Action: USD-JPY…

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Hot Stocks
Ally Financial sees 'significant' provision expense in Q1 for credit losses » 11:28
04/06/20
04/06
11:28
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11:28
ALLY

Ally Financial

$13.05 /

+1.07 (+8.93%)

Ally Financial said…

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Earnings
Ally Financial withdraws 2020 outlook on COVID-19 uncertainty » 11:27
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04/06
11:27
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11:27
ALLY

Ally Financial

$13.14 /

+1.155 (+9.64%)

"Given our inability…

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Conference/Events
JMP Securities energy tech analysts to hold an analyst/industry conference call » 11:26
04/06/20
04/06
11:26
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11:26

Energy Technology &…

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Recommendations
Siemens Healthineers price target lowered to EUR 40 at Citi » 11:25
04/06/20
04/06
11:25
04/06/20
11:25
SMMNY

Siemens Healthineers

$0.00 /

+ (+0.00%)

Citi analyst Martin…

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Options
Macy's call volume above normal and directionally bullish » 11:25
04/06/20
04/06
11:25
04/06/20
11:25
M

Macy's

$5.14 /

+0.33 (+6.87%)

Bullish option flow…

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Conference/Events
Momenta participates in a conference call with Stifel » 11:25
04/06/20
04/06
11:25
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11:25
MNTA

Momenta

$26.28 /

+2.28 (+9.50%)

Healthcare Analyst…

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Conference/Events
Prologis to host business news update conference call » 11:25
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04/06
11:25
04/06/20
11:25
PLD

Prologis

$77.73 /

+4.14 (+5.63%)

Management provides an…

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Conference/Events
UBS consumer goods/services analysts to hold an analyst/industry conference call » 11:25
04/06/20
04/06
11:25
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11:25

Consumer Goods Analyst…

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Recommendations
Incyte's topical rux could generate $500M+ in sales in AD, says Piper Sandler » 11:21
04/06/20
04/06
11:21
04/06/20
11:21
INCY

Incyte

$83.27 /

+4.59 (+5.83%)

Piper Sandler analyst…

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Recommendations
RTL Group price target lowered to EUR 30 from EUR 48 at Citi » 11:21
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04/06
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RGLXY

RTL Group

$0.00 /

+ (+0.00%)

Citi analyst Catherine…

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Conference/Events
JMP Securities pharmaceuticals analysts to hold analyst/industry conference call » 11:20
04/06/20
04/06
11:20
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KNSA

Kiniksa

$16.33 /

-1.59 (-8.87%)

Pharmaceuticals Analysts…

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Hot Stocks
Venus Concept 510(k) premarket notification posted by FDA » 11:19
04/06/20
04/06
11:19
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11:19
VERO

Venus Concept

$3.93 /

+0.23 (+6.22%)

The FDA issued a…

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Technical Analysis
NASDAQ market internals summary » 11:17
04/06/20
04/06
11:17
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11:17
$NSD

NASDAQ Market Internals

$0.00 /

+ (+0.00%)

Volume is above average…

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Technical Analysis
NYSE market internals summary » 11:16
04/06/20
04/06
11:16
04/06/20
11:16
$NYE

NYSE Market Internals

$0.00 /

+ (+0.00%)

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General news
U.S. corporate bond update: another very active session is on the way » 11:15
04/06/20
04/06
11:15
04/06/20
11:15

U.S. corporate bond…

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General news
3-Month Bill Auction to be released at 11:30  11:15
04/06/20
04/06
11:15
04/06/20
11:15
 
General news
6-Month Bill Auction to be released at 11:30  11:15
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11:15
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11:15
 
Recommendations
Badger Daylighting price target lowered to C$30 from C$35 at TD Securities » 11:13
04/06/20
04/06
11:13
04/06/20
11:13
BADFF

Badger Daylighting

$0.00 /

+ (+0.00%)

TD Securities analyst…

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Recommendations
Ryanair Hold recommendation, price target under review at Canaccord » 11:08
04/06/20
04/06
11:08
04/06/20
11:08
RYAAY

Ryanair

$56.57 /

+6.32 (+12.58%)

Canaccord analyst Gert…

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Hot Stocks
PVH Corp. completes sale of Speedo North America business to Pentland Group » 11:06
04/06/20
04/06
11:06
04/06/20
11:06
PVH

PVH Corp.

$35.14 /

+4.205 (+13.59%)

PVH announced it has…

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Options
CenturyLink call volume above normal and directionally bullish » 11:05
04/06/20
04/06
11:05
04/06/20
11:05
CTL

CenturyLink

$9.13 /

+0.03 (+0.33%)

Bullish option flow…

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