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LXRX Lexicon $7.48 -0.38 (-4.83%) , SLF Sun Life Financial $37.95 -0.31 (-0.81%) … 10:21 03/14/19 03/14 10:21 03/14/19 10:21 Downgrade	Fly Intel: Top five analyst downgrades » Catch up on today's… Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Lexicon (LXRX) downgraded to Sell from Hold at Gabelli with analyst Kevin Kedra citing his expectation that the FDA will reject sotagliflozin in type 1 diabetes by its March 22 PDUFA date following a split AdCom vote in January. 2. Sun Life Financial (SLF) downgraded to Underperformer from Neutral at CIBC. 3. Yum China (YUMC) downgraded to Outperform from Buy at Daiwa with analyst Adrian Chan citing valuation but says long-term growth remains intact. 4. Line Corp. (LN) downgraded to Underperform from Neutral at Credit Suisse. 5. Nabors Industries (NBR) downgraded to Neutral from Buy at Citi with analyst Scott Gruber saying Nabors' free cash flow outlook is weighted towards the second half of 2019, with Q1 likely to be a cash burn of $40M-plus. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here. LXRX Lexicon $7.48 -0.38 (-4.83%) SLF Sun Life Financial $37.95 -0.31 (-0.81%) YUMC Yum China $40.96 -0.01 (-0.02%) LN Line Corp. $34.30 -1.23 (-3.46%) NBR Nabors Industries $3.49 -0.005 (-0.14%) 03/08/13 Wedge Partners 03/08/13 Credit Suisse 03/06/13 Citigroup 03/06/13 Barclays See Street Research during your Free Trial	22 Mar 26 Mar 22 May
NBR Nabors Industries $3.49 0.025 (0.72%) , FET Forum Energy $5.65 0.06 (1.07%) … 09:37 03/14/19 03/14 09:37 03/14/19 09:37 Downgrade	Nabors Industries, Forum Energy, Patterson-UTI, Keane Group rating change at Citi » Citi downgrades Nabors to… Citi downgrades Nabors to Neutral on back half weighted outlook. Citi analyst Scott Gruber downgraded Nabors Industries (NBR) to Neutral from Buy and cut his price target for the shares to $4.00 from $6.70. The analyst coupled the downgrade with an upgrade of Forum Energy (FET) to Buy from Neutral. Nabors' free cash flow outlook is weighted towards the second half of 2019, with Q1 likely to be a cash burn of $40M-plus, Gruber tells investors in a research note. He believes the magnitude of the cash burn in Q1 will lead to investors questioning if the company can reach its $200M-$250M free cash flow target for the year. With the shares up 70% year-to-date, Gruber expects a "pause" into Nabors' Q1 results. The analyst's top three picks in U.S. Oil Services are Patterson-UTI (PTEN), Keane Group (FRAC) and Forum Energy. NBR Nabors Industries $3.49 0.025 (0.72%) FET Forum Energy $5.65 0.06 (1.07%) PTEN Patterson-UTI $13.93 0.34 (2.50%) FRAC Keane Group $10.17 0.43 (4.41%) 03/08/13 Wedge Partners 03/08/13 Credit Suisse 03/06/13 Citigroup 03/06/13 Barclays See Street Research during your Free Trial	18 Mar 22 May
NBR Nabors Industries $3.49 0.025 (0.72%) 08:49 03/14/19 03/14 08:49 03/14/19 08:49 Downgrade	Nabors Industries rating change at Citi » Nabors Industries… Nabors Industries downgraded to Neutral from Buy at Citi 03/08/13 Wedge Partners 03/08/13 Credit Suisse 03/06/13 Citigroup 03/06/13 Barclays See Street Research during your Free Trial	22 May
NBR Nabors Industries $3.21 -0.12 (-3.60%) 20:33 03/10/19 03/10 20:33 03/10/19 20:33 Initiation	Nabors Industries initiated at Goldman Sachs » Nabors Industries… Nabors Industries initiated with a Neutral at Goldman Sachs. Goldman Sachs started Nabors Industries with a Neutral rating and $4 price target. 03/08/13 Wedge Partners 03/08/13 Credit Suisse 03/06/13 Citigroup 03/06/13 Barclays See Street Research during your Free Trial	22 May
NBR Nabors Industries $3.29 0.22 (7.17%) 14:11 02/27/19 02/27 14:11 02/27/19 14:11 Downgrade	Nabors Industries rating change at Argus » Argus downgrades Nabors… Argus downgrades Nabors Industries to Sell, drops coverage. As previously reported, Argus analyst David Coleman downgraded Nabors Industries to Sell from Hold and dropped coverage of the company. "We are continuously reviewing the stocks in our coverage universe in order to provide research on those that appear most promising to our analysts and that generate the most interest among our clients. After several months of discussion, the director of research has concluded that NBR no longer meets these criteria," Coleman wrote in his downgrade note. 03/08/13 Wedge Partners 03/08/13 Credit Suisse 03/06/13 Citigroup 03/06/13 Barclays See Street Research during your Free Trial	27 Feb 04 Mar 22 May

NBR Nabors Industries $3.29 0.22 (7.17%) 14:06 02/27/19 02/27 14:06 02/27/19 14:06 Downgrade	Nabors Industries rating change at Argus » Nabors Industries… Nabors Industries downgraded to Sell from Hold at Argus 03/08/13 Wedge Partners 03/08/13 Credit Suisse 03/06/13 Citigroup 03/06/13 Barclays See Street Research during your Free Trial	27 Feb 04 Mar 22 May
NBR Nabors Industries $3.07 -0.04 (-1.29%) 20:07 02/26/19 02/26 20:07 02/26/19 20:07 Hot Stocks	Nabors Industries says customers in Venezuela to experience disruptions » In its Q4 earnings… In its Q4 earnings statement earlier, Nabors said: "Our International results were somewhat lower than expected as uncertainty in Venezuela resulted in the temporary idling of our fleet there. Although our customers in Venezuela will experience disruptions in coming quarters, three of our five rigs are currently working. In addition, Rig Technologies' activity was adversely impacted by customer concerns as a result of the volatility in oil prices." 03/08/13 Wedge Partners 03/08/13 Credit Suisse 03/06/13 Citigroup 03/06/13 Barclays See Street Research during your Free Trial	27 Feb 04 Mar 22 May
NBR Nabors Industries $3.07 -0.04 (-1.29%) 18:52 02/26/19 02/26 18:52 02/26/19 18:52 Earnings	Nabors Industries reports Q4 cont ops EPS (55c) with items, consensus (17c) » Reports Q4 revenue $782M,… Reports Q4 revenue $782M, consensus $802.68M. Q4 results included net impairments and other charges of $52M, or 15c per share after tax, and a separate non-cash income tax charge of $52M, or 15c per share, related to the establishment of a reserve on our deferred tax asset in Canada. 03/08/13 Wedge Partners 03/08/13 Credit Suisse 03/06/13 Citigroup 03/06/13 Barclays See Street Research during your Free Trial	27 Feb 04 Mar 22 May
AMCX AMC Networks $63.62 0.85 (1.35%) , UAL United Continental $88.26 -0.28 (-0.32%) … 13:38 02/14/19 02/14 13:38 02/14/19 13:38 Hot Stocks	Omega Advisors exits Sinclair and Keane during Q4, buys more Cigna, CVS » Leon Cooperman's… Leon Cooperman's Omega Advisors disclosed in a regulatory filing its holdings as of December 31, 2018. Omega exited 38 positions during the quarter, including by size of previous position, Sinclair Broadcast (SBGI), Keane Group (FRAC), PVH Corp. (PVH), Adobe (ADBE) and Dish (DISH). Omega increased its stake in six holdings, including by size, Cigna (CI), CVS Health (CVS), Mr. Cooper (COOP), THL Credit (TCRD) and Marathon Petroleum (MPC). The fund reduced its stake in 24 holdings, including United Continental (UAL), AMC Networks (AMCX), First Data (FDC), Microsoft (MSFT), Alphabet (GOOGL) and Nabors Industries (NBR). Omega's top holdings as of December 31, in order of size, were United Continental, Alphabet, Nielsen (NLSN), Ashland (ASH) and CVS Health (CVS). AMCX AMC Networks $63.62 0.85 (1.35%) UAL United Continental $88.26 -0.28 (-0.32%) MPC Marathon Petroleum $64.56 0.93 (1.46%) TCRD THL Credit $6.75 0.01 (0.15%) COOP Mr. Cooper $14.57 (0.00%) CVS CVS Health $68.02 0.23 (0.34%) CI Cigna $190.68 1.9 (1.01%) DISH Dish $29.75 0.9 (3.12%) ADBE Adobe $260.64 0.43 (0.17%) PVH PVH Corp. $112.25 -0.3 (-0.27%) FRAC Keane Group $10.82 0.305 (2.90%) SBGI Sinclair Broadcast $33.12 0.52 (1.60%) FDC First Data $25.10 0.08 (0.32%) MSFT Microsoft $106.88 0.1 (0.09%) GOOG Alphabet $1,125.91 6.16 (0.55%) GOOGL Alphabet Class A $1,133.22 6.36 (0.56%) NBR Nabors Industries $3.08 0.03 (0.98%) NLSN Nielsen $26.11 0.06 (0.23%) ASH Ashland $79.13 -0.34 (-0.43%) 03/08/13 Wedge Partners 03/08/13 Credit Suisse 03/06/13 Citigroup 03/06/13 Barclays See Street Research during your Free Trial	14 Feb 20 Feb 25 Feb 03 Mar 04 Mar 04 Mar 06 Mar 07 Mar 18 Mar 18 Mar 24 Apr 22 May

Over a quarter ago
NBR Nabors Industries $2.78 -0.16 (-5.44%) 06:57 01/17/19 01/17 06:57 01/17/19 06:57 Downgrade	Nabors Industries rating change at Cowen » Nabors Industries… Nabors Industries downgraded to Market Perform from Outperform at Cowen. As noted earlier, Cowen analyst Marc Bianchi downgraded Nabors Industries to Market Perform and lowered his price target lower to $4 from $8 as part of his broader research note on oilfield service names. The analyst believes the stock could suffer from its relatively higher levered balance sheet if the "spare U.S. production capacity remains an overhang on the commodity price for a number of years". Bianchi also states that Nabors has recently outperformed the OIH and that its stock trades relatively inexpensive, but sees the company's International performance as "choppy". 03/08/13 Wedge Partners 03/08/13 Credit Suisse 03/06/13 Citigroup 03/06/13 Barclays See Street Research during your Free Trial	10 Feb

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