Fly Intel: Top five analyst downgrades » 09:5304/1504/15/21
INTC, VMW, KSU, CAPL, PXD
Catch up on today's…
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Intel (INTC) downgraded to Underperform from Market Perform at Raymond James with analyst Chris Caso saying the risk that Intel won't reach its goals under new leadership, and also the pain they will likely endure in pursuit of that goal in terms of capex, lost market share, and a shifting landscape in datacenter that will make the industry less dependent on Intel. 2. VMware (VMW) downgraded to Market Perform from Outperform at Northland with analyst Nehal Chokshi saying the spinoff from Dell Technologies (DELL) should result in an governance structure theoretically and improved partner ecosystem, but this his unlikely on a practical basis, noting the spin proposal reduces VMware's financial flexibility and introduces incremental risks to business. 3. Kansas City Southern (KSU) downgraded to Equal Weight from Overweight at Wells Fargo with analyst Allison Poliniak-Cusic viewing the probability of the merger proceeding as greater than 50%, and believes another potential bidder is unlikely to step in. 4. CrossAmerica (CAPL) downgraded to Market Perform from Outperform at Raymond James with analyst Justin Jenkins citing valuation and a more balanced risk/reward. 5. Pioneer Natural (PXD) downgraded to Sector Perform from Outperform at Scotiabank with analyst Paul Cheng saying management is repositioning the company to "the right business model," but the shares appear to have largely reflected these favorable developments. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
CrossAmerica downgraded to Market Perform at Raymond James on valuation » 06:5004/1504/15/21
Raymond James analyst…
Raymond James analyst Justin Jenkins downgraded CrossAmerica to Market Perform from Outperform without a price target, citing valuation and a more balanced risk/reward. Although Jenkins believe CrossAmerica remains in a healthy operational position moving forward, considering the macro volatility that remains, after reaching the firm's prior target price, sees better risk/reward opportunities elsewhere in the space, the analyst tells investors in a research note.
CrossAmerica downgraded to Market Perform from Outperform at Raymond James » 05:2604/1504/15/21
Raymond James analyst…
Raymond James analyst Justin Jenkins downgraded CrossAmerica Partners to Market Perform from Outperform without a price target.
|Over a quarter ago|
CrossAmerica downgraded to Underweight from Equal Weight at Wells Fargo » 05:5211/3011/30/20
Wells Fargo analyst Ned…
Wells Fargo analyst Ned Baramov downgraded CrossAmerica to Underweight from Equal Weight with a $15 price target. For "the first time in a long time," the analyst is bullish midstream heading into 2021. He sees a "number of tailwinds" driving outperformance next year including a vaccine-driven crude rally, a bullish setup for both gas and natural gas prices, rotation into value over growth, and long-term opportunities around renewables. Baramov's rating changes reflect a shift to more volume and price sensitive beta names with downgrades of more defensive, fee-based stocks.
CrossAmerica price target raised to $17 from $15 at RBC Capital » 06:5008/1808/18/20
RBC Capital analyst…
RBC Capital analyst Elvira Scotto raised the firm's price target on CrossAmerica to $17 from $15 but keeps a Sector Perform rating on the shares. The analyst notes that the company's Q2 results topped expectations on same-store basis while volumes improved from the pandemic-lows. Scotto expects CrossAmerica's volumes to slowly improve further in the 2nd half of this year, though she also sees a risk that prolonged shelter-in-place orders nationwide will crimp gasoline demand.
CrossAmerica withdraws FY20 guidance » 16:4605/0605/06/20
CrossAmerica Partners is…
CrossAmerica Partners is withdrawing its FY20 guidance in light of the current COVID-19 crisis given the uncertainty surrounding the duration and extent of its associated economic impact.
CrossAmerica reports Q1 EPS $2.00, may not compare to consensus 10c » 16:4605/0605/06/20
Reports Q1 revenue…
Reports Q1 revenue $391.69M, consensus $487.85M.