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Fly News Breaks for February 24, 2020
TECK, BLDR, KDP, TRP, FSLR
Feb 24, 2020 | 10:21 EDT
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. First Solar (FSLR) upgraded to Outperform from Market Perform at Raymond James with analyst Pavel Molchanov saying this is the first time since 2010 that he is turning positive on First Solar, saying the backdrop is the best all-around investor sentiment on clean tech in more than a decade. 2. TC Energy (TRP) upgraded to Neutral from Sell at Goldman Sachs with analyst Michael Lapides citing lower balance sheet concerns due to asset sales, a high proportion of EBITDA from its low risk, but solid growth gas pipeline business in Western Canada, and to reflect more accurately historical trading trends. 3. Keurig Dr Pepper (KDP) upgraded to Equal Weight from Underweight at Morgan Stanley with analyst Dara Mohsenian saying the stock is up only 5% over the last year, which lags its closest peers Coca-Cola (KO) and Pepsi (PEP) as well as the broader Consumer Packaged Goods peer group and the S&P, noted Mohsenian, who now thinks Keurig's valuation better reflects its lower growth profile and higher risks compared to is peers. 4. Builders FirstSource (BLDR) upgraded to Outperform from Sector Perform at RBC Capital and to Buy from Hold at Benchmark. 5. Teck Resources (TECK) upgraded to Neutral from Underperform at BofA with analyst Timna Tanners saying Friday's 15% selloff has brought the shares to levels not seen since April 2016. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
News For FSLR;TRP;KDP;BLDR;TECK From the Last 2 Days
TECK
Oct 20, 2020 | 15:45 EDT
Bullish option flow detected in Teck Resources with 13,161 calls trading, 1.3x expected, and implied vol increasing over 1 point to 67.99%. 10/23 weekly 14 calls and Nov-20 15 calls are the most active options, with total volume in those strikes near 4,000 contracts. The Put/Call Ratio is 0.16. Earnings are expected on October 27th.
KDP
Oct 20, 2020 | 08:05 EDT
As previously reported, Jefferies analyst Kevin Grundy upgraded National Beverage (FIZZ) to Hold from Underperform with a price target of $85, up from $55. Growth in the sparkling water category has accelerated since the pandemic began given a skew toward at-home consumption and consumers' increased emphasis on health and wellness, said Grundy, who also noted that La Croix's market share trends have stabilized. While competitive risk remains with Coca-Cola (KO), Pepsi (PEP) and and Keurig Dr Pepper (KDP) all focused on this fast-growing category, Grundy now sees the risk as manageable, he added.