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Initiation
Kansas City Southern resumed with a Buy at Stifel » 16:17
04/06/20
04/06
16:17
04/06/20
16:17
KSU

Kansas City Southern

$134.68 /

+11.67 (+9.49%)

Stifel analyst David Ross…

Stifel analyst David Ross resumed coverage of Kansas City Southern with a Buy rating and $146 price target. The analyst believes that the 25% decline in the stock price from February highs is a buying opportunity as he sees the company as being the best positioned among the U.S. rails to take advantage of the long-term trend toward re-shoring, near-shoring and growth in U.S./Mexico trade in addition to enjoying the benefits of its precision scheduled railroad initiatives.

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Friday
Hot Stocks
General Dynamics protest of Leidos award dismissed in part, denied in part » 15:35
04/03/20
04/03
15:35
04/03/20
15:35
LDOS

Leidos

$87.21 /

-1.39 (-1.57%)

, GD

General Dynamics

$125.93 /

-2.18 (-1.70%)

The U.S. Government…

The U.S. Government Accountability Office announced that it dismissed the protest in part and denied the protest in part that was made by General Dynamics Information Technology (GD) of the award of a contract to Leidos (LDOS) under request for proposals No. HC1028-18-R-0024, issued by the Department of Defense, Defense Information Systems Agency for global solutions management - operations, or GSM-O II, services. Three offerors, including Leidos, the incumbent, and GDIT, submitted proposals by the January 7, 2019, closing date, the GAO notice stated. Reference Link

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Downgrade
Fly Intel: Top five analyst downgrades » 10:13
04/03/20
04/03
10:13
04/03/20
10:13
REAL

RealReal

$6.62 /

-0.32 (-4.61%)

, URI

United Rentals

$93.12 /

-2.87 (-2.99%)

, IMMU

Immunomedics

$9.11 /

-1.53 (-14.38%)

, SHAK

Shake Shack

$31.93 /

-1.06 (-3.21%)

, RL

Ralph Lauren

$64.02 /

-1.92 (-2.91%)

Catch up on today's…

Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. RealReal (REAL) downgraded to Neutral profitability delay at B. Riley FBR with analyst Susan Anderson saying the company's profitability timeframe will likely be pushed out at least a year, if not longer, amid the COVID-19 pandemic. 2. United Rentals (URI) downgraded to Neutral from Outperform at Exane BNP Paribas and to Hold from Buy at Jefferies. 3. Immunomedics (IMMU) double downgraded to Sell from Buy at Goldman Sachs with analyst Paul Choi saying a Form 483 was published detailing ten observations of quality control, procedural, maintenance and other issues observed during the FDA's most recent inspection of the company's Morris Plains, NJ facility. 4. Shake Shack (SHAK) downgraded to Neutral from Outperform at Credit Suisse with analyst Lauren Silberman saying the company is facing an "outsized near-term risk" from the impact of COVID-19 given its exposure to high-traffic, tourist areas, and a foundation built on community gathering. 5. Ralph Lauren (RL) downgraded to Sector Perform from Outperform at RBC Capital with analyst Kate Fitzsimons saying the company's near-term sales and margins are clearly impacted by store closures across North America and Europe, though her longer-term concern is with the longer-term impairments to North American wholesale, industry-wide inventory misalignment, and "inevitable pullbacks in marketing spending" that will impede its efforts to engage new consumers. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

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Downgrade
United Rentals downgraded to Hold on construction troubles at Jefferies » 07:49
04/03/20
04/03
07:49
04/03/20
07:49
URI

United Rentals

$95.99 /

-0.02 (-0.02%)

As previously reported,…

As previously reported, Jefferies analyst William Kirkness downgraded United Rentals to Hold from Buy with a price target of $110, down from $165, given pressure on the construction market. Michigan, New York, Pennsylvania, and Washington have deemed construction non-essential aside from a few exceptions while 22 other states have applied localized restrictions, Kirkness noted. He now models a 4-6 week hiatus in what represents 75% of revenues for United Rentals, adding that utilization was already below expectations, partly due to "deal indigestion," and oil and gas revenues have been coming under increasing pressure.

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Downgrade
United Rentals downgraded to Neutral from Outperform at Exane BNP Paribas » 04:59
04/03/20
04/03
04:59
04/03/20
04:59
URI

United Rentals

$95.99 /

-0.02 (-0.02%)

Exane BNP Paribas analyst…

Exane BNP Paribas analyst Allen Wells downgraded United Rentals to Neutral from Outperform with a $105 price target.

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Downgrade
United Rentals downgraded to Hold from Buy at Jefferies » 04:58
04/03/20
04/03
04:58
04/03/20
04:58
URI

United Rentals

$95.99 /

-0.02 (-0.02%)

Jefferies analyst William…

Jefferies analyst William Kirkness downgraded United Rentals to Hold from Buy with a price target of $110, down from $165.

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Thursday
Hot Stocks
The AAR reports U.S railroads originated 899,673 carloads in March, down 6% » 15:03
04/02/20
04/02
15:03
04/02/20
15:03
CNI

Canadian National

$75.11 /

+0.29 (+0.39%)

, CP

Canadian Pacific

$210.47 /

+ (+0.00%)

, CSX

CSX

$54.89 /

+0.04 (+0.07%)

, KSU

Kansas City Southern

$117.55 /

-4.48 (-3.67%)

, NSC

Norfolk Southern

$140.22 /

+0.2 (+0.14%)

, UNP

Union Pacific

$137.84 /

+1.35 (+0.99%)

, GWR

Genesee & Wyoming

$0.00 /

+ (+0.00%)

The Association of…

The Association of American Railroads reported U.S. rail traffic for the week ending March 28, as well as volumes for March 2020. U.S. railroads originated 899,673 carloads in March 2020, down 6 percent, or 57,148 carloads, from March 2019. U.S. railroads also originated 935,380 containers and trailers in March 2020, down 12.2 percent, or 130,461 units, from the same month last year. Combined U.S. carload and intermodal originations in March 2020 were 1,835,053, down 9.3 percent, or 187,609 carloads and intermodal units from March 2019. "Rail traffic numbers confirm that the coronavirus is taking a toll on the economy," said AAR Senior Vice President John T. Gray. "For example, U.S. carloads of autos and auto parts last week were down 70% from the same week last year as auto production declined to zero and consumer spending has begun to shrink demand. While intermodal volume last week was down year-over-year 14% overall, total movements for the five railroads serving the West Coast ports remained steady for a fifth consecutive week, reinforcing the expectation that we may have seen the bottoming of the Asia-North America trade. However, this week also reminded us that the recent collapse in oil prices is hurting rail shipments of petroleum products, frac sand, and steel products.Total U.S. carload traffic for the first three months of 2020 was 2,993,051 carloads, down 6.3 percent, or 202,755 carloads, from the same period last year; and 3,178,285 intermodal units, down 8.6 percent, or 298,297 containers and trailers, from last year. Publicly traded companies in the space include CSX (CSX), Canadian National (CNI), Canadian Pacific (CP), Genesee & Wyoming (GWR), Kansas City Southern (KSU), Norfolk Southern (NSC) and Union Pacific (UNP).

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Options
United Rentals call volume above normal and directionally bullish » 14:25
04/02/20
04/02
14:25
04/02/20
14:25
URI

United Rentals

$94.38 /

-1.63 (-1.70%)

Bullish option flow…

Bullish option flow detected in United Rentals with 3,319 calls trading, 1.3x expected, and implied vol increasing almost 2 points to 106.75%. 4/3 weekly 120 calls and Apr-20 120 calls are the most active options, with total volume in those strikes near 1,400 contracts. The Put/Call Ratio is 0.24. Earnings are expected on April 29th.

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Conference/Events
MasTec participates in a conference call hosted by Craig Hallum » 10:10
04/02/20
04/02
10:10
04/02/20
10:10
MTZ

MasTec

$29.11 /

+0.22 (+0.76%)

Conference call with…

Conference call with Management to be held on April 2 hosted by Craig Hallum.

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Recommendations
Leidos price target lowered to $105 from $120 at Wells Fargo » 08:31
04/02/20
04/02
08:31
04/02/20
08:31
LDOS

Leidos

$87.27 /

-4.465 (-4.87%)

Wells Fargo analyst Ed…

Wells Fargo analyst Ed Caso lowered the firm's price target on Leidos to $105 from $120 after reviewing the Stimulus Bill, while keeping an Overweight rating on the shares. The analyst believes there is likely to be some revenue interruption, reduced utilization, incremental response costs and some impact on DSO, but the group does not have credit risk and none face near-term debt maturity hurdles.

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