Bank of America Merrill Lynch downgraded shares of Corenergy Infrastructure Trust Inc (NYSE: CORR), citing the uncertain growth outlook, year-to-date performance relative to the midstream MLP sector and a still somewhat elevated business risk profile.
M&A Outlook, Funding A Worry
Merrill Lynch clarified that the growth at CorEnergy is driven primarily by M&A, with the management having guided to one or two transactions per project range in 2017/18. The firm believes potential M&A might renew the company's growth story but ...
Goldman Sachs' Matthew Cabral downgraded the 3D printing company from Neutral to Sell with an unchanged $20 price target, which implies a downside of nearly 30 percent. While the analyst did acknowledge the company's business is indeed showing signs of stabilization after two years of declines, the fact remains it still faces multiple headwinds.
Stratasys is facing competitive threats not only from "deep-pocketed" industrial giants but also innovative startups, Cabral noted. Of particular note, General Electric Company (NYSE: GE) has spent more than $1 billion ...
The Utilities SPDR (ETF) (NYSE: XLU) is up more than 10 percent so far in 2017, but utility stocks may have finally exhausted their positive momentum. Goldman Sachs analyst Michael Lapides has downgraded the utilities sector from Neutral to Cautious and says valuation is becoming a concern.
Absolute PE ratios in the utility sector are back at peak cyclical levels, and relative valuation metrics compared to the rest of the S&P 500 are also near peak levels, Lapides wrote in the downgrade note. Finally, despite the outperformance in the market, earnings growth remains in the typical range.
“With the utility sector index roughly 10% higher than YE 2016 levels and having outperformed ...
Regeneron Pharmaceuticals Inc (NASDAQ: REGN) shares have been on an uptrend since late April, adding roughly 40 percent. The run up has led to worries over whether the stock has gotten ahead of fundamentals.
Bernstein downgraded Regeneron, citing a more balanced risk-reward scenario. The firm attributed the run up to the successful launch of Dupixent coupled with sector re-rating as concerns about government action receded.
Analyst Aaron Gal said the stock is less likely to outperform the broader drug sector.
- The positive view on Dupixent launch is now fully discounted in the stock price. Additionally, the launch does not guarantee achievement of peak sales.
- To achieve a 15-percent ...
DaVita is a kidney dialysis services company, operating through two units, namely DaVita Kidney Care and DaVita Medical Group.
Organic Growth To Slowdown
Analyst Chris Cooper expects a 50–100-basis-point slowdown in organic treatment growth to 4–5 percent, offsetting the benefit he had previously expected from cheaper Erythropoietin-agent stimulating therapy input costs.
Specifically, the analyst expects 4-percent Kidney Care operating income growth versus the 2–7-percent guidance.
Patient-Steering Challenge Hurts Negotiations
The analyst also noted that DaVita is worried about the challenging rate environment, with patient-steering allegations continuing to hinder negotiations.
The allegations have come about as federal health regulators are assessing whether some health care providers are steering people into Obamacare plans in order to pocket higher insurance reimbursements.
"We continue to expect Retacrit ...
Under Armour Inc. (NYSE: UAA) has traded down 8 percent since reaching a monthly high on June 15, and the Vetr community has downgraded the stock from 4.5 to 4 stars.
Under Armour athletes such as Steph Curry and Jordan Spieth have had the company ...
- Buckingham upgraded Coach Inc (NYSE: COH) from Neutral to Buy. Coach shares rose 1.26 percent to $47.30 in pre-market trading.
- Analysts at Raymond James upgraded Costco Wholesale Corporation (NASDAQ: COST) from Market Perform to Outperform. Costco shares gained 0.92 percent to $158.57 in pre-market trading.
- Analysts at SunTrust Robinson Humphrey upgraded Berry Global Group Inc (NYSE: BERY) from Hold to Buy. Berry Global shares dropped 0.59 percent to close at $57.04 on Friday.
- BMO Capital upgraded Visteon Corp (NYSE: VC) from Market Perform to Outperform. Visteon shares gained 1.11 percent to close at $95.91 on Friday.
- Analysts at Goldman Sachs upgraded PPL Corp (NYSE: PPL) from Sell to Neutral. PPL shares fell 0.49 percent to close at $38.83 on Friday.
- Pacific Crest upgraded Pandora Media Inc (NYSE: P) from Underweight to Sector Weight. Pandora shares gained 3.26 percent to $8.55 in pre-market trading.
- Goldman Sachs upgraded Duke Energy Corp (NYSE: DUK) from Neutral to Buy. Duke Energy shares rose 0.65 percent to $86.52 in pre-market trading.
- Analysts at Telsey Advisory Group upgraded Childrens Place Inc (NASDAQ: PLCE) from Market Perform to Outperform. Children's Place shares rose 1.41 percent to close at $96.95 on Friday.
- Analysts at Morgan Stanley downgraded GrubHub Inc (NYSE: GRUB) from Overweight to Equal-Weight. GrubHub shares fell 3.56 percent to $46.00 in pre-market trading.
- Goldman Sachs ...
The upside for Caterpillar Inc. (NYSE: CAT) shares is baked into the consensus, according to Deutsche Bank.
The firm downgraded the equipment manufacturer from Buy to Hold and lowered its price target from $121 to $106 Thursday.
When Caterpillar reports second-quarter earnings July 25, it will likely deliver an EPS beat — but that upside might not last, research analyst Saree Boroditsky said in a note.
“[W]e believe 2Q will represent the last significant ‘beat and raise’ quarter for CAT this year, and think [second half] consensus forecasts could remain stagnant.”
Benzinga reported in March that the Peoria, Illinois-based company was raided by agents from the ...
Since reaching its year-to-date high at $64.13 on February 8, Ubiquiti Networks Inc. (NASDAQ: UBNT) has traded down 22 percent, and the Vetr community has downgraded the stock from 4.5 to 4 stars.
The highlight of Ubiquiti’s big drop ...
- Argus upgraded Oracle Corporation (NYSE: ORCL) from Hold to Buy. Oracle shares fell 0.48 percent to $50.06 in pre-market trading.
- Analysts at Deutsche Bank upgraded AK Steel Holding Corporation (NYSE: AKS) from Hold to Buy. AK Steel shares gained 4.13 percent to $6.56 in pre-market trading.
- Analysts at Needham upgraded Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX) from Hold to Buy. Vertex Pharmaceuticals shares gained 1.44 percent to $137.48 in pre-market trading.
- Deutsche Bank upgraded RH (NYSE: RH) from Hold to Buy. RH shares gained 2.70 percent to $58.18 in pre-market trading.
- Analysts at Bank of America upgraded Prologis Inc (NYSE: PLD) from Neutral to Buy. Prologis shares fell 0.71 percent to close at $57.64 on Thursday.
- BMO Capital upgraded Bemis Company, Inc. (NYSE: BMS) from Market Perform to Outperform. Bemis shares gained 0.56 percent to $45.15 in pre-market trading.
- Deutsche Bank upgraded United States Steel Corporation (NYSE: X) from Hold to Buy. United States Steel shares rose 2.75 percent to $21.65 in pre-market trading.
- Analysts at Aegis Capital upgraded Versum Materials Inc (NYSE: VSM) from Hold to Buy. Versum Materials shares rose 0.50 percent to close at $31.90 on Thursday.
- JP Morgan downgraded Leju Holdings Ltd (ADR) (NYSE: LEJU) from Neutral to Underweight. Leju Holdings shares rose 2.93 percent to close at $2.46 on Thursday.
- Analysts at Morgan Stanley downgraded Ocular Therapeutix Inc (NASDAQ: OCUL) ...
Fewer people are going to movie theaters, and Credit Suisse analyst Omar Sheikh is taking notice.
Sheikh now has issued Underperform ratings on Cinemark Holdings, Inc. (NYSE: CNK), AMC Entertainment Holdings Inc (NYSE: AMC), Regal Entertainment Corp (NYSE: RGC) and a Neutral rating on IMAX Corp (USA) (NYSE: IMAX).
Specific Ratings And Price Targets
- Cinemark: Downgraded to Underperform; lowered price target from $38 to $34.
- AMC: Reiterated Underperform; lowered price target from $26 to $20.
- Regal Entertainment: Reiterated Underperform; lowered price target from $19 to $17.
- IMAX: Neutral; lowered price target from $33 to $26.
Box Office Sales Are Trending In The Wrong Direction
Sheikh highlighted weak box office sales, on track to ...
Although Western Banking Corp (NASDAQ: WDC) shares have traded up over 5 percent over this week, the Vetr community has downgraded the stock from 4.5 to 4 stars. The company has seen recent bullish sentiment from Aegis Capital and Evercore ISI.
Vetr members have given ...
- RBC Capital upgraded CarMax, Inc (NYSE: KMX) from Sector Perform to Outperform. CarMax shares rose 0.83 percent to close at $59.74 on Wednesday.
- Analysts at Wedbush upgraded Oracle Corporation (NYSE: ORCL) from Neutral to Outperform. Oracle shares gained 11.37 percent to $51.60 in pre-market trading.
- Analysts at Guggenheim upgraded Splunk Inc (NASDAQ: SPLK) from Neutral to Buy. Splunk shares rose 1.87 percent to $58.20 in pre-market trading.
- Argus upgraded Southwest Airlines Co (NYSE: LUV) from Hold to Buy. Southwest shares gained 1.20 percent to $61.76 in pre-market trading.
- Societe Generale upgraded Edgewell Personal Care Co (NYSE: EPC) from Hold to Buy. Edgewell Personal Care shares dropped 0.88 percent to close at $75.05 on Wednesday.
- Analysts at BMO Capital upgraded Brinker International, Inc. (NYSE: EAT) from Underperform to Market Perform. Brinker shares dropped 2.43 percent to close at $36.93 on Wednesday.
- B. Riley upgraded Infinera Corp. (NASDAQ: INFN) from Neutral to Buy. Infinera shares declined 0.71 percent to close at $11.18 on Wednesday.
- Analysts at Wunderlich upgraded Abercrombie & Fitch Co. (NYSE: ANF) from Sell to Hold. Abercrombie & Fitch shares declined 1.39 percent to close at $12.05 on Wednesday.
- Barclays upgraded Actuant Corporation (NYSE: ATU) from Underweight to Equal-Weight. Actuant shares dropped 3.89 percent to close at $22.25 ...
The Vetr community downgraded Pfizer Inc. (NYSE: PFE) from 3.5 stars to 3 stars.
Pfizer shares have settled into a steady trading range over the past six months between $31 and $34, and the company's first-quarter earnings report ...
- Analysts at Wells Fargo upgraded CDK Global Inc (NASDAQ: CDK) from Market Perform to Outperform. CDK Global shares fell 0.27 percent to close at $62.14 on Tuesday.
- UBS upgraded AGCO Corporation (NYSE: AGCO) from Sell to Neutral. AGCO shares declined 1.30 percent to close at $66.92 on Tuesday.
- Argus upgraded ONEOK, Inc. (NYSE: OKE) from Hold to Buy. ONEOK shares dropped 5.40 percent to close at $47.50 on Tuesday.
- Analysts at Barclays upgraded Weatherford International Plc (NYSE: WFT) from Equalweight to Overweight. Weatherford shares gained 1.22 percent to $4.15 in pre-market trading.
- Stifel upgraded Red Hat Inc (NYSE: RHT) from Hold to Buy. Red Hat shares gained 9.49 percent to $98.50 in pre-market trading.
- Pacific Crest upgraded Paypal Holdings Inc (NASDAQ: PYPL) from Sector Weight to Overweight. PayPal shares rose 1.10 percent to $53.10 in pre-market trading.
- Analysts at Morgan Stanley upgraded Marathon Oil Corporation (NYSE: MRO) from Overweight to Equalweight. Marathon Oil shares slipped 0.08 percent to $12.05 in pre-market trading.
- Analysts at Stifel upgraded VMware, Inc. (NYSE: VMW) from Hold to Buy. VMware shares gained 1.13 percent to $89.22 in pre-market trading.
- Seaport Global downgraded Apache Corporation (NYSE: APA) from Buy to Neutral. Apache shares fell 4.22 percent to close at $47.72 on Tuesday.
- Analysts at Mitsubishi UFJ downgraded Rice Midstream Partners LP (NYSE: RMP) from Overweight to ...