CF Industries appoints Julie Scheck Freigang as chief information officer » 17:1410/1910/19/20
CF Industries (CF)…
CF Industries (CF) announced that Julie Scheck Freigang has joined the company as VP and chief information officer. She will be responsible for the company's global technology strategy, information technology operations and cybersecurity. Prior to joining CF, Freigang was VP, chief information officer at Franklin Electric (FELE).
Fly Intel: Top five analyst upgrades » 09:5210/1910/19/20
BMY, BAM, ADM, FN, ORLY
Catch up on today's…
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Bristol-Myers (BMY) upgraded to Buy from Neutral at Guggenheim with analyst Seamus Fernandez saying he thinks Opdivo data suggest growth of the immuno-oncology franchise can return in 2021 and accelerate in 2022. 2. Brookfield (BAM) upgraded to Buy from Neutral at Citi with analyst William Katz saying the merits of the American Equity (AEL) equity stake "alters the somewhat stale narrative and opens up an incremental growth path." 3. Archer Daniels (ADM) upgraded to Overweight from Neutral at JPMorgan with analyst Thomas Simonitsch saying he expects the company's multiple to "re-rate" exiting 2020 given "resilient" Nutrition growth through the pandemic and greater confidence in the segment's growth trajectory for 2021 and beyond. 4. Fabrinet (FN) upgraded to Outperform from Market Perform at Northland with analyst Tim Savageaux saying he sees the 15% pullback in the shares being most likely driven by Huawei and Ciena (CIEN) concerns. 5. O'Reilly Automotive (ORLY) upgraded to Outperform from Market Perform at Raymond James with analyst Matthew McClintock saying he has historically been hesitant to recommend owning the stock due to valuation concerns but says the current valuation is actually attractive for a long-term financial algorithm that has many reasons to accelerate relative to recent years. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
Bunge price target raised to $61 from $47 at JPMorgan » 07:5810/1910/19/20
JPMorgan analyst Thomas…
JPMorgan analyst Thomas Simonitsch raised the firm's price target on Bunge to $61 from $47 and keeps a Neutral rating on the shares. The near term fundamental outlook for Bunge's core business is much improved from the Q2 results, led by accelerated China purchases of U.S. agriculture products and a superior soy crush margin environment that should translate into "solid" Q3 results next week, Simonitsch tells investors in a research note.
Archer Daniels upgraded to Overweight with $60 target at JPMorgan » 07:5710/1910/19/20
JPMorgan analyst Thomas…
JPMorgan analyst Thomas Simonitsch upgraded Archer Daniels Midland to Overweight from Neutral with a price target of $60, up from $45. The analyst expects the company's multiple to "re-rate" exiting 2020 given "resilient" Nutrition growth through the pandemic and greater confidence in the segment's growth trajectory for 2021 and beyond. This results in less volatile earnings and cash flows for Archer Daniels, Simonitsch tells investors in a research note. Further, the near term fundamental outlook for Archer's core business is much improved from the Q2 results, led by accelerated China purchases of U.S. agriculture products and a superior soy crush margin environment that should translate into "solid" Q3 results next week, adds the analyst.
Archer Daniels upgraded to Overweight from Neutral at JPMorgan » 04:4810/1910/19/20
JPMorgan analyst Thomas…
JPMorgan analyst Thomas Simonitsch upgraded Archer Daniels to Overweight from Neutral with a $60 price target.
|Over a week ago|
CF Industries price target lowered to $32 from $38 at RBC Capital » 08:5810/1410/14/20
RBC Capital analyst…
RBC Capital analyst Andrew Wong lowered the firm's price target on CF Industries to $32 from $38 and keeps a Sector Perform rating on the shares. The analyst is citing the headwinds of lower pricing and higher costs in the near term in noting that the upside on the stock may be limited, though he also sees some potential for nitrogen prices to stage a "moderate rebound" in the spring. CF Industries free cash flow also remains solid, Wong tells investors in a research note.
Archer Daniels call volume above normal and directionally bullish » 13:0510/1210/12/20
Bullish option flow…
Bullish option flow detected in Archer Daniels with 1,170 calls trading, 1.0x expected, and implied vol increasing over 4 points to 32.50%. Mar-21 50 calls and Mar-21 55 calls are the most active options, with total volume in those strikes near 540 contracts. The Put/Call Ratio is 0.18. Earnings are expected on October 29th.
ADM, Spiber partner on production of biobased polymers » 11:0110/0510/05/20
ADM and Spiber announced…
ADM and Spiber announced an agreement to expand the production of Spiber's Brewed Protein polymers for use in apparel and other consumer products. The collaboration will combine Spiber's cutting-edge structural protein fermentation technology with ADM's deep expertise in large-scale fermentation technologies, engineering, operations and extensive agricultural supply chain. The Brewed Protein polymers will be produced by ADM in the U.S. using plant-based dextrose as a feedstock, and then shipped to Spiber downstream facilities, where they will be processed into an array of materials - primarily fibers - for use in a variety of applications such as apparel, lightweight auto parts, high-performance foams, and more. Brewed Protein polymers will play a critical role in expanding the range of plant-based, sustainable alternative materials.
Largest borrow rate increases among liquid names » 08:4509/2809/28/20
TAN, VBIV, CRBP, AXU, FIZZ, CF, PSTI, MAXR, ADMA, XERS
Latest data shows the…
Latest data shows the largest indicative borrow rate increases among liquid option names include: Guggenheim Global Solar Index (TAN) 8.88% +3.12, VBI Vaccines (VBIV) 18.89% +2.79, Corbus Pharmaceuticals (CRBP) 85.32% +0.95, Alexco Resource (AXU) 36.23% +0.66, National Beverage (FIZZ) 1.52% +0.41, CF Industries (CF) 0.49% +0.24, Pluristem (PSTI) 40.37% +0.22, Maxar Technologies (MAXR) 0.53% +0.18, Adma Biologics (ADMA) 2.20% +0.16, and Xeris Pharmaceuticals (XERS) 47.80% +0.16.
|Over a month ago|
Seaport upgrades Andersons to Buy on improving grain sector fundamentals » 06:2809/2409/24/20
As previously reported,…
As previously reported, Seaport Global analyst Eric Larson upgraded Andersons to Buy from Neutral with a $26 price target. Grain sector fundamentals are improving "rapidly" after six straight years of challenging conditions, said Larson, who views Andersons as in a "great position to benefit during the recovery." He sees accelerating earnings growth beginning in the second half of 2020 and believes the company can achieve its annual adjusted EBITDA goal of $300M-plus in 2021, Larson added.