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Fly News Breaks for January 9, 2020
NTRS, GS, WFC, RF, STT, MS, JPM, C, BK, BAC
Jan 9, 2020 | 07:52 EDT
Buckingham analyst James Mitchell told investors in a research note that he would emphasize the brokerage stocks over the banks this year, as not only are they less expensive, but that expectations around growth embedded in consensus are quiet modest. The analyst upgraded Goldman Sachs (GS) and downgraded Northern Trust (NTRS), and said Citi (C) remains a top pick for the second year in a row. He also emphasized Morgan Stanley (MS) and Regions Financial (RF) as the cheapest brokers relative to historical multiples in his coverage universe. The analyst raised his price target for Bank of America (BAC) to $40 from $35, for BNY Mellon (BK) to $56 from $50, for Citi to $100 from $86, for JPMorgan (JPM) to $140 from $122, for Morgan Stanley to $65 from $55, for State Street (STT) to $95 from $84, for Regions Financial to $110 from $108 and for Wells Fargo to $55 from $47.
News For BAC;BK;C;JPM;MS;STT;RF;WFC;GS;NTRS From the Last 2 Days
BAC
May 10, 2021 | 12:33 EDT
Lufthansa (DLAKY) is working with Deutsche Bank (DB) and Bank of America (BAC) to pitch investors on a capital raise worth approximately $3.7B, potentially as soon as next month, Reuters' Abhinav Ramnarayan, Arno Schuetze, and Ilona Wissenbach report, citing people close to the matter. The final size and timing off the capital raise to repay state aid the airline received during the COVID-19 pandemic will be subject to market conditions, and the company is expected to opt for a June/July or September/October window, the authors note. Reference Link
STT, MS, JPM, GS, C, BAC
May 10, 2021 | 10:02 EDT
ISDA Virtual Annual General Meeting 2021 will be held on May 10-12. Webcast Link
WFC
May 10, 2021 | 08:21 EDT
Sachem Capital (SACH) announced that William Haydon has been appointed Chief Investment Officer and Director of Investor Relations earlier this month. In this new role, Haydon is responsible for managing the company's liquid reserves and securities portfolio, as well as Sachem's underwriting team. Haydon is a senior finance and capital markets executive with over 25 years of experience in financial services and investment banking. Prior to joining Sachem Capital in 2021, he served as a Portfolio Manager and Branch Manager at Wells Fargo Advisors (WFC) Financial Network from 2011.