Revenue for investment banks from commodities dropped in 2012, with intrusive regulations and increased capital requirements resulting in less interest from clients. Another factor was volatility for the year was relatively low, also affecting interest in the sector.
The drop was a huge 25 percent from 2011, with revenue coming in at $6 billion for 2012, down significantly from the $8 billion in revenue generated the year before.
Ten banks were by consultant Coalition, including Bank of America/Merrill Lynch (BAC), Barclays (BCS), Citigroup (C), Credit Suisse (CS), Deutsche Bank (DB), JP Morgan (JPM), RBS (RBS), Goldman Sachs (GS), Morgan Stanley (MS) and UBS (UBS).
A report released by Coalition said, "Low volatility and reduced client activity led to a 24 per cent drop in revenues. Energy, investor products and precious metals options businesses were notably affected.
"Performance was also subdued by ongoing concerns about increased regulation and capital sensitivity, pushing banks to re-evaluate their commodities strategies."
In its quarterly results last month, Morgan Stanley said the commodity revenue for the fourth quarter was the lowest since 1995.
Showing posts with label Deutsche Bank. Show all posts
Showing posts with label Deutsche Bank. Show all posts
Thursday, February 14, 2013
Wednesday, October 10, 2012
Kinross Gold (KGC) CFO Paul Barry Steps Down
Paul Barry, the CFO of Kinross Gold Corporation (NYSE: KGC), is the latest top executive to leave the company, a couple of months after CEO Tye Burt was replaced by J. Paul Rollinson in August.
The stated reason for leaving was the usual “to pursue other interests,” although it is a surety that it follows on the heels of the reason Burt left, which was to boost margins, lower costs, and better capital efficiency.
Although it's not a certainty it's tied in to this move, today Morgan Stanley (MS) downgraded the miner from an “Equal Weight” rating to an “Underweight” rating.
Even so, most analysts have been more positive on the company, with Deutsche Bank (DB), RBC Capital and TD Securities all looking favorably on the gold miner. Deutsche has a "Buy" rating on Kinross; RBC Capital has an "Outperform" rating on the company; and TD Securities also has a "Buy" rating on them.
As for a new CFO, there has been no candidate named to replace Barry, who evidently announced his exit suddenly, or else Kinross would have had a replacement in place. Kinross says Barry will stay on until a new CFO is found.
Thursday, August 30, 2012
Yingli (YGE) (CVE) (WPX) (OILT) (NRP) (PWE) (QRE) Ratings Changes and Initiations
Yingli Green Energy Hold. Co. Ltd. (YGE), Cenovus Energy (CVE), WPX Energy (WPX), Oiltanking Partners (OILT), Natural Resource (NRP), Penn West Energy Trust (PWE) and QR Energy LP (QRE) had ratings changed or initiated on them.
Barclays Capital upgraded Cenovus Energy (CVE) from an "Equal Weight" rating to an "Overweight" rating. They have a price target of $41.00 on the company.
Barclays Capital upgraded WPX ENERGY INC (WPX) from an "Equal Weight" rating to an "Overweight" rating. They have a price target of $18.00 on the company.
Bank of America (BAC) downgraded Oiltanking Partners (OILT) from a "Buy" rating to a "Neutral" rating.
ThinkEquity downgraded Yingli Green Energy Hold. Co. Ltd. (YGE) from a "Hold" rating to a "Sell" ratng. The slashed their price target from $3.00 to $1.00 a share.
Dahlman Rose initiated coverage on Natural Resource (NRP). They placed a "Hold" rating on the company.
Deutsche Bank (DB) initiated coverage on Penn West Energy Trust (PWE). They placed a "Hold" rating on the company.
JPMorgan Chase (JPM) initiated coverage on QR Energy LP (QRE). They placed an "Overweight" rating and price target of $21.00 on the company.
Barclays Capital upgraded Cenovus Energy (CVE) from an "Equal Weight" rating to an "Overweight" rating. They have a price target of $41.00 on the company.
Barclays Capital upgraded WPX ENERGY INC (WPX) from an "Equal Weight" rating to an "Overweight" rating. They have a price target of $18.00 on the company.
Bank of America (BAC) downgraded Oiltanking Partners (OILT) from a "Buy" rating to a "Neutral" rating.
ThinkEquity downgraded Yingli Green Energy Hold. Co. Ltd. (YGE) from a "Hold" rating to a "Sell" ratng. The slashed their price target from $3.00 to $1.00 a share.
Dahlman Rose initiated coverage on Natural Resource (NRP). They placed a "Hold" rating on the company.
Deutsche Bank (DB) initiated coverage on Penn West Energy Trust (PWE). They placed a "Hold" rating on the company.
JPMorgan Chase (JPM) initiated coverage on QR Energy LP (QRE). They placed an "Overweight" rating and price target of $21.00 on the company.
Tuesday, November 29, 2011
Yahoo (YHOO) (YUM) (TIF) (LULU) (BMY) (CTSH) Ratings Reiterated
Yahoo (YHOO) (YUM) (TIF) (LULU) (BMY) (CTSH) had ratings on them reiterated by analysts.
Yahoo! Inc. (YHOO) was given a reiterated “Buy” rating by Gabelli.
Yum! Brands, Inc. (YUM) was given a reiterated “Overweight” rating by Morgan Stanley (NYSE:MS). They have a price target of $61.00 on the company.
Tiffany & Co. (TIF) was given a reiterated “Hold” rating by Jefferies (NYSE:JEF).
Lululemon (LULU) was given a reiterated “Buy” rating by Auriga. They have a price target of $68.00 on the company.
Bristol Myers Squibb Co. (BMY) was given a reiterated “Buy” rating by Deutsche Bank (NYSE:DB) .
Cognizant (NASDAQ: CTSH) was given a reiterated “Outperform” rating by Oppenheimer. They have a price target of $82.00 on the company.
Yahoo! Inc. (YHOO) was given a reiterated “Buy” rating by Gabelli.
Yum! Brands, Inc. (YUM) was given a reiterated “Overweight” rating by Morgan Stanley (NYSE:MS). They have a price target of $61.00 on the company.
Tiffany & Co. (TIF) was given a reiterated “Hold” rating by Jefferies (NYSE:JEF).
Lululemon (LULU) was given a reiterated “Buy” rating by Auriga. They have a price target of $68.00 on the company.
Bristol Myers Squibb Co. (BMY) was given a reiterated “Buy” rating by Deutsche Bank (NYSE:DB) .
Cognizant (NASDAQ: CTSH) was given a reiterated “Outperform” rating by Oppenheimer. They have a price target of $82.00 on the company.
Monday, October 24, 2011
Maxim (MXIM) (INFA) (UNP) (STX) (SNDK) (NFX) (CPHD) Price Targets Changed
Maxim Integrated Products Inc. (NASDAQ: MXIM), Informatica Co. (NASDAQ: INFA), Union Pacific (NYSE: UNP), Seagate (NYSE: STX), SanDisk Co. (NASDAQ: SNDK), Newfield Exploration Co. (NYSE: NFX) and Cepheid (NASDAQ: CPHD) had price targets on them adjusted by analysts.
Maxim Integrated Products Inc. (MXIM) had its price target lowered by FBR Capital from $32.00 to $30.00. They have an "Outperform” rating on the company.
Informatica Co. (INFA) had its price target lowered by Piper Jaffray (NYSE:PJC) to $45.00
Union Pacific (UNP) had its price target raised by Deutsche Bank (NYSE:DB) to $110.00.
Seagate (STX) had its price target raised by Brean Murray from $15.00 to $18.00. They have a “Buy” rating on the company.
SanDisk Co. (SNDK) had its price target raised by RBC Capital from $66.00 to $71.00. They have a “Top Pick” rating on the company.
Newfield Exploration Co. (NFX) had its price target lowered by RBC Capital from $85.00 to $66.00. They have an “Outperform” rating on the company.
Cepheid (CPHD) had its price target raised by Oppenheimer to $42.00.
Maxim Integrated Products Inc. (MXIM) had its price target lowered by FBR Capital from $32.00 to $30.00. They have an "Outperform” rating on the company.
Informatica Co. (INFA) had its price target lowered by Piper Jaffray (NYSE:PJC) to $45.00
Union Pacific (UNP) had its price target raised by Deutsche Bank (NYSE:DB) to $110.00.
Seagate (STX) had its price target raised by Brean Murray from $15.00 to $18.00. They have a “Buy” rating on the company.
SanDisk Co. (SNDK) had its price target raised by RBC Capital from $66.00 to $71.00. They have a “Top Pick” rating on the company.
Newfield Exploration Co. (NFX) had its price target lowered by RBC Capital from $85.00 to $66.00. They have an “Outperform” rating on the company.
Cepheid (CPHD) had its price target raised by Oppenheimer to $42.00.
Thursday, September 22, 2011
Optimer (OPTR) (NOG) (NXPI) (OEH) Get New Coverage
Optimer Pharmaceuticals (NASDAQ: OPTR), Northern Oil & Gas, Inc. (NYSE: NOG), NXP Semiconductors (NASDAQ: NXPI) and Orient-Express Hotels Ltd. (NYSE: OEH) getting new coverage from analysts.
RBC Capital initiated coverage on Northern Oil & Gas, Inc. (NOG). They placed an “Outperform” rating and a price target of $30.00 on the company.
Sterne Agee initiated coverage on NXP Semiconductors (NXPI). They placed a “Buy” rating and a price target of $29.00 on the company.
Deutsche Bank (NYSE:DB) initiated coverage on Orient-Express Hotels Ltd. (OEH). They placed a “Buy” rating on the company.
Brean Murray initiated coverage on Optimer Pharmaceuticals (OPTR). They placed a “Buy” rating and a price target of $20.00 on the company.
RBC Capital initiated coverage on Northern Oil & Gas, Inc. (NOG). They placed an “Outperform” rating and a price target of $30.00 on the company.
Sterne Agee initiated coverage on NXP Semiconductors (NXPI). They placed a “Buy” rating and a price target of $29.00 on the company.
Deutsche Bank (NYSE:DB) initiated coverage on Orient-Express Hotels Ltd. (OEH). They placed a “Buy” rating on the company.
Brean Murray initiated coverage on Optimer Pharmaceuticals (OPTR). They placed a “Buy” rating and a price target of $20.00 on the company.
Newfield (NFX) (H) (HEI) (HOT) (KOG) Get New Coverage
Newfield Exploration Co. (NYSE: NFX), Hyatt Hotels (NYSE: H), HEICO (NYSE: HEI), Starwood Hotels (NYSE: HOT) and Kodiak Oil & Gas Corp. (NYSE: KOG) getting new coverage from analysts.
Deutsche Bank (NYSE:DB) initiated coverage on Hyatt Hotels (H). They placed a “Buy” rating on the company.
Credit Suisse initiated coverage on HEICO (NYSE: HEI). They placed an “Outperform” rating and a price target of $69.00 on the company.
Deutsche Bank initiated coverage on Starwood Hotels (HOT). They placed a “Buy” rating on the company.
RBC Capital initiated coverage on Kodiak Oil & Gas Corp. (KOG). They placed an “Outperform” rating and a price target of $9.00 on the company.
Susquehanna initiated coverage on Newfield Exploration Co. (NFX). They placed a “Positive” rating on the company.
Deutsche Bank (NYSE:DB) initiated coverage on Hyatt Hotels (H). They placed a “Buy” rating on the company.
Credit Suisse initiated coverage on HEICO (NYSE: HEI). They placed an “Outperform” rating and a price target of $69.00 on the company.
Deutsche Bank initiated coverage on Starwood Hotels (HOT). They placed a “Buy” rating on the company.
RBC Capital initiated coverage on Kodiak Oil & Gas Corp. (KOG). They placed an “Outperform” rating and a price target of $9.00 on the company.
Susquehanna initiated coverage on Newfield Exploration Co. (NFX). They placed a “Positive” rating on the company.
Wednesday, September 21, 2011
Anadarko (APC) (CHK) (DVN) (ECA) (EOG) (NBL) Get New Coverage
Anadarko Petroleum (NYSE:APC), Chesapeake Energy (NYSE:CHK), Devon Energy (NYSE:DVN), Encana (NYSE:ECA), EOG Resources (NYSE:EOG) and Noble Energy (NYSE:NBL) getting new coverage from analysts.
Deutsche Bank (NYSE:DB) initiated coverage on Anadarko Petroleum (APC). They have a "Buy" rating and a price target of $91 on the company.
Deutsche Bank initiated coverage on Chesapeake Energy (CHK). They have a "Hold" rating and price target of $39 on the company.
Deutsche Bank initiated coverage on Devon Energy (DVN). They have a "Hold" rating a price target of $93 on the company.
Deutsche Bank initiated coverage on Encana (ECA). They have a "Hold" rating and a price target of $26 on the company.
Deutsche Bank initiated coverage on EOG Resources (EOG). They have a "Hold" rating and a price target of $116 on the company.
Deutsche Bank initiated coverage on Noble Energy (NBL). They have a "Buy" rating and a price target of $120 on the company.
Deutsche Bank (NYSE:DB) initiated coverage on Anadarko Petroleum (APC). They have a "Buy" rating and a price target of $91 on the company.
Deutsche Bank initiated coverage on Chesapeake Energy (CHK). They have a "Hold" rating and price target of $39 on the company.
Deutsche Bank initiated coverage on Devon Energy (DVN). They have a "Hold" rating a price target of $93 on the company.
Deutsche Bank initiated coverage on Encana (ECA). They have a "Hold" rating and a price target of $26 on the company.
Deutsche Bank initiated coverage on EOG Resources (EOG). They have a "Hold" rating and a price target of $116 on the company.
Deutsche Bank initiated coverage on Noble Energy (NBL). They have a "Buy" rating and a price target of $120 on the company.
Wednesday, September 7, 2011
Altera (ALTR) (DRI) (PRGS) Price Targets Changed
Altera (NASDAQ: ALTR), Darden Restaurants, Inc. (NYSE: DRI) and Progress Software (NASDAQ: PRGS) had their price targets changed by analysts.
Altera (NASDAQ: ALTR) had its price target lowered by Jefferies (NYSE:JEF) to $48.00.
Darden Restaurants, Inc. (DRI) had its price target lowered by Deutsche Bank (NYSE:DB) to $45.00.
Progress Software (PRGS) had its price target lowered by Longbow Research from $27.00 to $22.00. They have a “Buy” rating on the company.
Altera (NASDAQ: ALTR) had its price target lowered by Jefferies (NYSE:JEF) to $48.00.
Darden Restaurants, Inc. (DRI) had its price target lowered by Deutsche Bank (NYSE:DB) to $45.00.
Progress Software (PRGS) had its price target lowered by Longbow Research from $27.00 to $22.00. They have a “Buy” rating on the company.
Wednesday, July 13, 2011
Ratings on Cisco (CSCO) (MO) (VMW) (PEP) (NVLS) Reiterated by Analysts
Cisco Systems, Inc. (NASDAQ: CSCO), Altria Group (NYSE: MO), VMware, Inc. (NYSE: VMW), PepsiCo, Inc. (NYSE: PEP) and Novellus Systems, Inc. (NASDAQ: NVLS) had analysts reiterate their ratings on them.
Sterne Agee reiterated a "Buy" rating on Cisco Systems, Inc. (CSCO)
Morgan Stanley (NYSE:MS) reiterated an "Equal Weight rating on Altria Group (MO).
Deutsche Bank (NYSE:DB) maintains a "Buy" rating on VMWare (VMW). They have a price target of $135.00 on the company.
Morgan Stanley (NYSE:MS) reiterated an "Overweight" rating on PepsiCo (PEP).
Citigroup (NYSE:C) reiterated a "Hold" rating on Novellus Systems, Inc. (NVLS). They have a price target of $40.00 on the company.
VMWare closed Tuesday at $100.37, dropping $1.76, or 1.72 percent. Cisco Systems closed at $15.60, gaining $0.17, or 1.10 percent. Altria Group closed at $26.90, falling $0.03, or 0.11 percent. PepsiCo ended the day at $69.00, down $0.30, or 0.43 percent. Novellus Systems closed at $31.75, losing $4.02, or 11.24 percent.
Sterne Agee reiterated a "Buy" rating on Cisco Systems, Inc. (CSCO)
Morgan Stanley (NYSE:MS) reiterated an "Equal Weight rating on Altria Group (MO).
Deutsche Bank (NYSE:DB) maintains a "Buy" rating on VMWare (VMW). They have a price target of $135.00 on the company.
Morgan Stanley (NYSE:MS) reiterated an "Overweight" rating on PepsiCo (PEP).
Citigroup (NYSE:C) reiterated a "Hold" rating on Novellus Systems, Inc. (NVLS). They have a price target of $40.00 on the company.
VMWare closed Tuesday at $100.37, dropping $1.76, or 1.72 percent. Cisco Systems closed at $15.60, gaining $0.17, or 1.10 percent. Altria Group closed at $26.90, falling $0.03, or 0.11 percent. PepsiCo ended the day at $69.00, down $0.30, or 0.43 percent. Novellus Systems closed at $31.75, losing $4.02, or 11.24 percent.
Wednesday, July 6, 2011
Goldcorp (GG) (SSRI) (TC) (JBLU) (KBH) Downgraded
Goldcorp Inc. (NYSE: GG), Silver Standard Resources Inc. (NASDAQ: SSRI), Thompson Creek Metals Co Inc (NYSE: TC), Jetblue Airways (NASDAQ: JBLU) and KB Home (NYSE: KBH) were downgraded by analysts.
Deutsche Bank (NYSE:DB) downgraded Goldcorp Inc. (GG) from a “buy” rating to a “hold” rating.
Deutsche Bank downgraded Silver Standard Resources Inc. (SSRI) from a “buy” rating to a “hold” rating.
Deutsche Bank downgraded Thompson Creek Metals (TC) from a “buy” rating to a “hold” rating.
Morgan Stanley (NYSE:MS) downgraded Jetblue Airways Corporation (JBLU) to an “underweight” rating.
Keefe, Bruyette & Woods downgraded KB Home (KBH) from a “market perform” rating to an “underperform” rating. They have a price target of $9.00 on the company, down from $13.00.
Goldcorp closed Tuesday at $49.32, gaining $1.88, or 3.96 percent. Silver Standard Resources closed at $27.02, jumping $0.75, or 2.85 percent. Thompson Creek Metals closed at $10.10, falling $0.03, or 0.30 percent. Jetblue Airways ended the day at $5.96, losing $0.29, or 4.64 percent. KB Home closed at $9.92, down $0.25, or 2.46 percent.
Deutsche Bank (NYSE:DB) downgraded Goldcorp Inc. (GG) from a “buy” rating to a “hold” rating.
Deutsche Bank downgraded Silver Standard Resources Inc. (SSRI) from a “buy” rating to a “hold” rating.
Deutsche Bank downgraded Thompson Creek Metals (TC) from a “buy” rating to a “hold” rating.
Morgan Stanley (NYSE:MS) downgraded Jetblue Airways Corporation (JBLU) to an “underweight” rating.
Keefe, Bruyette & Woods downgraded KB Home (KBH) from a “market perform” rating to an “underperform” rating. They have a price target of $9.00 on the company, down from $13.00.
Goldcorp closed Tuesday at $49.32, gaining $1.88, or 3.96 percent. Silver Standard Resources closed at $27.02, jumping $0.75, or 2.85 percent. Thompson Creek Metals closed at $10.10, falling $0.03, or 0.30 percent. Jetblue Airways ended the day at $5.96, losing $0.29, or 4.64 percent. KB Home closed at $9.92, down $0.25, or 2.46 percent.
Wednesday, June 8, 2011
Price Targets on (SCCO) (NWL) (STZ) (GR) (SUN) Updated
Analysts updated price targets on Southern Copper Corp (NASDAQ: SCCO), Newell Rubbermaid (NYSE: NWL), Constellation Brands, Inc. (NYSE: STZ), Goodrich Co. (NYSE: GR) and Sunoco Incorporated (NYSE: SUN).
Deutsche Bank (NYSE:DB) cut their price target on Newell Rubbermaid (NWL) to $21.00.
Societe Generale cut their price target on Southern Copper Corp (SCCO) to $42.00.
UBS AG (NYSE:UBS) raised their price target on Constellation Brands, Inc. (STZ) from $25.00 to $28.00. They have a “buy” rating on the company.
Morgan Stanley (NYSE:MS) raised their price target on Sunoco Incorporated (SUN) to $53.00. They have an “overweight” rating on the company.
Citigroup (NYSE:C) raised their price target on Goodrich Co. (GR) to $108.00. They have a “buy” rating on the company.
Deutsche Bank (NYSE:DB) cut their price target on Newell Rubbermaid (NWL) to $21.00.
Societe Generale cut their price target on Southern Copper Corp (SCCO) to $42.00.
UBS AG (NYSE:UBS) raised their price target on Constellation Brands, Inc. (STZ) from $25.00 to $28.00. They have a “buy” rating on the company.
Morgan Stanley (NYSE:MS) raised their price target on Sunoco Incorporated (SUN) to $53.00. They have an “overweight” rating on the company.
Citigroup (NYSE:C) raised their price target on Goodrich Co. (GR) to $108.00. They have a “buy” rating on the company.
Ratings on (CVE) (CPO) (XLNX) (CRH) (PLD) Upgraded
Ratings on Cenovus Energy Inc (NYSE: CVE), Corn Products International, Inc. (NYSE: CPO), Xilinx, Inc. (NASDAQ: XLNX), CRH PLC (NYSE: CRH) and ProLogis (NYSE: PLD) were upgraded by analysts.
Macquarie upgraded Cenovus Energy Inc (CVE) from a “neutral” rating to an “outperform” rating.
Deutsche Bank (NYSE:DB) upgraded Corn Products International, Inc. (CPO) from a “hold” rating to a “buy” rating.
Goldman Sachs (NYSE:GS) upgraded Xilinx, Inc. (XLNX) from a “sell” rating to a “neutral” rating. They have a price target of $33.00 on the company.
Credit Suisse (NYSE:CS) upgraded CRH PLC (CRH) from a “neutral” rating to an “outperform” rating.
Bank of America (NYSE:BAC) upgraded ProLogis (PLD) from a “neutral” rating to a “buy” rating. They have a price target of $39.00 on the company, up from $37.00.
Macquarie upgraded Cenovus Energy Inc (CVE) from a “neutral” rating to an “outperform” rating.
Deutsche Bank (NYSE:DB) upgraded Corn Products International, Inc. (CPO) from a “hold” rating to a “buy” rating.
Goldman Sachs (NYSE:GS) upgraded Xilinx, Inc. (XLNX) from a “sell” rating to a “neutral” rating. They have a price target of $33.00 on the company.
Credit Suisse (NYSE:CS) upgraded CRH PLC (CRH) from a “neutral” rating to an “outperform” rating.
Bank of America (NYSE:BAC) upgraded ProLogis (PLD) from a “neutral” rating to a “buy” rating. They have a price target of $39.00 on the company, up from $37.00.
Tuesday, June 7, 2011
Ratings on (APC) (ADBE) (JNPR) (ORCL) (GLW) Reiterated
Ratings on Anadarko Petroleum (NYSE: APC), Adobe Systems (NASDAQ: ADBE), Juniper Networks (NASDAQ: JNPR), Oracle (NASDAQ: ORCL) and Corning Inc. (NYSE: GLW) were reiterated by analysts.
Deutsche Bank (NYSE:DB) reiterated a “buy” rating on Adobe Systems (ADBE).
Citigroup (NYSE:C) reiterated a “buy” rating on Anadarko Petroleum (APC).
Citigroup reiterated a “hold” rating on Corning Inc. (GLW).
Deutsche Bank reiterated a “hold” rating on Juniper Networks (JNPR).
Deutsche Bank reiterated a “hold” rating on Oracle (ORCL).
Deutsche Bank (NYSE:DB) reiterated a “buy” rating on Adobe Systems (ADBE).
Citigroup (NYSE:C) reiterated a “buy” rating on Anadarko Petroleum (APC).
Citigroup reiterated a “hold” rating on Corning Inc. (GLW).
Deutsche Bank reiterated a “hold” rating on Juniper Networks (JNPR).
Deutsche Bank reiterated a “hold” rating on Oracle (ORCL).
Friday, June 3, 2011
Marathon Oil (MRO) Retains "Buy" Rating as it Targets Eagle Ford
Deutsche Bank (NYSE:DB) analysts like what they see with Marathon Oil (NYSE:MRO), reiterating its "Buy" rating on the company.
The integrated energy company, with operations mostly in North America, Europe and Africa, announced it has come to an agreement to acquire acreage in the Eagle Ford shale formation in South Texas from Hilcorp Resources Holdings, L.P. for $3.5 billion.
Hilcorp, the company Marathon is acquiring the acreage from, is backed by private equity firm Kohlberg Kravis Roberts & Co. (NYSE:KKR).
As for oil prices, light sweet crude for delivery in July, fought back from big losses and closed 11 cents up at $100.40 a barrel.
In London, Brent North Sea crude for July settled at 115.54 a barrel, jumping $1.01 from Wednesday's close.
Higher prices has pressured gasoline, as consumers appear to be significantly cutting back on travel and spending heading into summer, as gas reserves rose higher then anticipated. Oil inventories were also expected to fall, but instead jumped by 2.9 million barrels.
Marathon closed Thursday at $52.51, falling $0.14, or, 0.27 percent.
The integrated energy company, with operations mostly in North America, Europe and Africa, announced it has come to an agreement to acquire acreage in the Eagle Ford shale formation in South Texas from Hilcorp Resources Holdings, L.P. for $3.5 billion.
Hilcorp, the company Marathon is acquiring the acreage from, is backed by private equity firm Kohlberg Kravis Roberts & Co. (NYSE:KKR).
As for oil prices, light sweet crude for delivery in July, fought back from big losses and closed 11 cents up at $100.40 a barrel.
In London, Brent North Sea crude for July settled at 115.54 a barrel, jumping $1.01 from Wednesday's close.
Higher prices has pressured gasoline, as consumers appear to be significantly cutting back on travel and spending heading into summer, as gas reserves rose higher then anticipated. Oil inventories were also expected to fall, but instead jumped by 2.9 million barrels.
Marathon closed Thursday at $52.51, falling $0.14, or, 0.27 percent.
Wednesday, June 1, 2011
Ratings on (EGN) (FOE) (FST) (GD) (HTGC) Upgraded
Ratings on Energen (NYSE: EGN), Ferro Co. (NYSE: FOE), Forest Oil Co. (NYSE: FST), General Dynamics (NYSE: GD) and Hercules Tech. (NASDAQ: HTGC) were upgraded by analysts.
Capstone upgraded Energen (EGN) from a “hold” rating to a “buy” rating. They have a price target of $72.00 on the company.
Deutsche Bank (NYSE:DB) upgraded Ferro Co. (FOE) from a “hold” rating to a “buy” rating. They now have a price target of $15.00 on the company.
Jefferies (NYSE:JEF) upgraded Forest Oil Co. (FST) from a “hold” rating to a “buy” rating. They have a price target of $37.00 on the company, up from $36.00.
SunTrust (NYSE:STI) upgraded General Dynamics (GD) from a “neutral” rating to a “buy” rating.
Lazard Capital upgraded Hercules Tech. (HTGC) from a “neutral” rating to a “buy” rating. They have a price target of $12.00 on the company.
Capstone upgraded Energen (EGN) from a “hold” rating to a “buy” rating. They have a price target of $72.00 on the company.
Deutsche Bank (NYSE:DB) upgraded Ferro Co. (FOE) from a “hold” rating to a “buy” rating. They now have a price target of $15.00 on the company.
Jefferies (NYSE:JEF) upgraded Forest Oil Co. (FST) from a “hold” rating to a “buy” rating. They have a price target of $37.00 on the company, up from $36.00.
SunTrust (NYSE:STI) upgraded General Dynamics (GD) from a “neutral” rating to a “buy” rating.
Lazard Capital upgraded Hercules Tech. (HTGC) from a “neutral” rating to a “buy” rating. They have a price target of $12.00 on the company.
Friday, May 20, 2011
Goldcorp (GG) Attracts Positive Analyst Attention
A number of analysts commented on different aspects of Goldcorp (NYSE:GG) recent, with the majority of them taking on a bullish tone.
JPMorgan (NYSE:JPM) recently boosted its price target on Goldcorp from $60 to $68.
Deutsche Bank (NYSE:DB) also recently upgraded Goldcorp from a "Hold" rating to a "Buy" rating.
Also upgrading the gold mining giant was HSBC (NYSE:HBC), which boosted the company from a "Neutral" to an "Overweight."
Goldcorp Inc. participates in the acquisition, exploration, development, and operation of precious metal properties in North and South America.
Goldcorp closed Thursday at $48.36, dropping $0.29, or 0.60 percent.
JPMorgan (NYSE:JPM) recently boosted its price target on Goldcorp from $60 to $68.
Deutsche Bank (NYSE:DB) also recently upgraded Goldcorp from a "Hold" rating to a "Buy" rating.
Also upgrading the gold mining giant was HSBC (NYSE:HBC), which boosted the company from a "Neutral" to an "Overweight."
Goldcorp Inc. participates in the acquisition, exploration, development, and operation of precious metal properties in North and South America.
Goldcorp closed Thursday at $48.36, dropping $0.29, or 0.60 percent.
Monday, November 8, 2010
NRG Energy (NYSE:NRG) Faces Upside Risk if Gas Comes Back
Even though Deutsche Bank (NYSE:DB) seems some risk associated with NRG Energy (NYSE:NRG) because of their exposure to gas if it surges back, they still raised their rating on the energy company from "Sell" to "Hold," citing weak catalysts no longer a factor.
Deutsche said, "We upgrade NRG to Hold from Sell with the stock having dropped ~8% and lagged the market and IPP peers since mid-September (S&P 500 up 8%). Our key catalyst of weak initial '11 guidance has also now passed. While we are moving to Hold we remain cautious given a weak outlook driven by hedge roll-offs, continued overhang from the STP nuclear project, and a fundamental valuation of $19/sh or modestly below the current price. We do not find further downside potential to be enough, and see upside risk if gas rebounds and/or STP is cancelled."
NRG just finished the process of acquiring Green Mountain Energy Company for a cash deal of $350 million.
The company closed Friday at $20.10, gaining $0.17, or 0.85 percent. They have a market cap of a little over $5 billion.
Deutsche said, "We upgrade NRG to Hold from Sell with the stock having dropped ~8% and lagged the market and IPP peers since mid-September (S&P 500 up 8%). Our key catalyst of weak initial '11 guidance has also now passed. While we are moving to Hold we remain cautious given a weak outlook driven by hedge roll-offs, continued overhang from the STP nuclear project, and a fundamental valuation of $19/sh or modestly below the current price. We do not find further downside potential to be enough, and see upside risk if gas rebounds and/or STP is cancelled."
NRG just finished the process of acquiring Green Mountain Energy Company for a cash deal of $350 million.
The company closed Friday at $20.10, gaining $0.17, or 0.85 percent. They have a market cap of a little over $5 billion.
Monday, November 1, 2010
Citigroup (NYSE:C), Deutsche (NYSE:DB), Auriga, Macquarie Give First Solar
First Solar (Nasdaq:FSLR) has garnered a lot of attention since their most recent quarterly report, drawing mixed rating results from Citigroup (NYSE:C), Deutsche Bank (NYSE:DB), Auriga and Macquarie.
The good news from their recent report was earnings per share exceeded analysts' expectations, with normalized EPS coming in at $2.21, although excluding one-time items, the company earned $1.87 a share, missing the analyst estimate of $1.94 per share, which is what most were looking at.
The bad news is cost rose during the quarter, generating questions as to if the industry cost leader is experiencing sustainable cost challenges, or they can rein it back in.
First Solar had their average cost per watt increase to 77 cents, a boost of 1 cent. That was based upon focusing on improving production lines, which ended up slowing things down.
Chief Executive Officer Rob Gillette said in the conference call of the company that they're working on reducing costs as production capacity is poised to double in 2012.
Again, cost performance going forward, and thus margins and earnings, will be determined on whether this was specific to the quarter, or a long-term
reality. No one knows at this time which it is. It generated concerns because it's the first time since the second quarter of 2008 the cost-per-watt increased sequentially.
Auriga said, "Core cost per watt increased slightly due to manufacturing
changes made in the quarter. While this is likely a one-time event, it does mark the first time since 2Q08 that cost-per-watt increased sequentially. With increased q/q utilization and module efficiency, concern might arise that cost reduction efforts are at least stalling."
Auriga maintained their "Buy" rating and $175 price target on First Solar.
Citigroup increased their price target on First Solar from $145 to $150,
although they are much lower than the other price targets mentioned here.
Macquarie downgraded First Solar from "Buy" to "Neutral," and Deutsche Bank downgraded them from "Buy" to "Hold." Macquarie has a price target of $175 on the solar company, raising it from $170.
The good news from their recent report was earnings per share exceeded analysts' expectations, with normalized EPS coming in at $2.21, although excluding one-time items, the company earned $1.87 a share, missing the analyst estimate of $1.94 per share, which is what most were looking at.
The bad news is cost rose during the quarter, generating questions as to if the industry cost leader is experiencing sustainable cost challenges, or they can rein it back in.
First Solar had their average cost per watt increase to 77 cents, a boost of 1 cent. That was based upon focusing on improving production lines, which ended up slowing things down.
Chief Executive Officer Rob Gillette said in the conference call of the company that they're working on reducing costs as production capacity is poised to double in 2012.
Again, cost performance going forward, and thus margins and earnings, will be determined on whether this was specific to the quarter, or a long-term
reality. No one knows at this time which it is. It generated concerns because it's the first time since the second quarter of 2008 the cost-per-watt increased sequentially.
Auriga said, "Core cost per watt increased slightly due to manufacturing
changes made in the quarter. While this is likely a one-time event, it does mark the first time since 2Q08 that cost-per-watt increased sequentially. With increased q/q utilization and module efficiency, concern might arise that cost reduction efforts are at least stalling."
Auriga maintained their "Buy" rating and $175 price target on First Solar.
Citigroup increased their price target on First Solar from $145 to $150,
although they are much lower than the other price targets mentioned here.
Macquarie downgraded First Solar from "Buy" to "Neutral," and Deutsche Bank downgraded them from "Buy" to "Hold." Macquarie has a price target of $175 on the solar company, raising it from $170.
Tuesday, October 26, 2010
Bank of America (NYSE:C), Citigroup (NYSE:C), Deutsche (NYSE:DB), Goldman (NYSE:GS) and UBS (NYSE:UBS) Bookrunners on Korea Gas Notes
Bank of America (NYSE:C), Citigroup (NYSE:C), Deutsche Bank (NYSE:DB), Goldman Sachs (NYSE:GS) and UBS (NYSE:UBS) were joint bookrunners on the sale of $500 senior unsecured notes in the 144a private placement market for Korea Gas Corp.
Here are the data:
BORROWER: KOREA GAS CORP
AMT $500 MLN COUPON 4.250 PCT MATURITY 11/2/2020
TYPE SR NTS ISS PRICE 99.5010 FIRST PAY 5/2/2011
MOODY'S A1 YIELD 4.312 PCT SETTLEMENT 11/2/2010
S&P SINGLE-A SPREAD 170 BPS PAY FREQ SEMI-ANNUAL
FITCH A-PLUS MORE THAN TREAS NON-CALLABLE N/A
Here are the data:
BORROWER: KOREA GAS CORP
AMT $500 MLN COUPON 4.250 PCT MATURITY 11/2/2020
TYPE SR NTS ISS PRICE 99.5010 FIRST PAY 5/2/2011
MOODY'S A1 YIELD 4.312 PCT SETTLEMENT 11/2/2010
S&P SINGLE-A SPREAD 170 BPS PAY FREQ SEMI-ANNUAL
FITCH A-PLUS MORE THAN TREAS NON-CALLABLE N/A
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