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Analyst upgrades: Molson Coors, Knightsbridge Tankers, Railroad sector

Posted Jan 23rd 2008 12:11PM by Eric Buscemi (RSS feed)
Filed under: Analyst upgrades and downgrades, duPont(E.I.)deNemours (DD), Burlington Northern Santa Fe (BNI)

MOST NOTEWORTHY: Molson Coors, Knightsbridge Tankers and the Railroad sector were today's noteworthy upgrades:
  • Banc of America upgraded shares of Molson Coors (NYSE: TAP) to Buy from Neutral as they believe the company's joint venture with SABMiller (OTC: SBMRY) could nearly double North American profits and that risks are largely priced in shares.
  • Jefferies upgraded shares of Knightsbridge Tankers (NASDAQ: VLCCF) to Buy from Hold on valuation and finds the dividend yield attractive at 12.4%.
  • Bear raised the Railroad Sector to Overweight from Market Weight. The firm upgraded Burlington Northern Santa Fe (NYSE: BNI), Canadian National Railway (NYSE: CNI) and Union Pacific (NYSE: UNP) to Outperform from Peer Perform citing valuations and the belief that rail volumes are close to a bottom.
OTHER UPGRADES:

SABMiller sales still soft in North America

Posted Oct 15th 2007 12:37PM by Tom Barlow (RSS feed)
Filed under: International markets, Economic data

The latest sales update from SABMiller PLC (OTC: SBMRY) demonstrates why the company has partnered with Molson Coors to form MillerCoors. In the relatively flat U.S. market, SAB will look to the cost savings of shared operations to sweeten its earnings. SABMiller's North American sales in the first half of 2007 have risen only 1.4%, when the impact of the recent purchases of Sparks and Steel Reserve are backed out. Its Miller Light product fared slightly better, recovering from the damage inflicted in the U.S. market by Anheuser-Busch's (NYSE: BUD) earlier price drop to finish up 2.1% in the first half of this year. New products including Miller Cheleda and Leinenkugel are performed well.

Internationally, the company is looking to the success of new brands such as its popular Hanza Marzen Gold in South Africa to offset the blow of losing the brewing and distributing rights to Heinken's Amstel brand in that country. SAB's growth in Central and South America continued to be strong, up 8% in the second quarter. The Africa and Asia markets, which accounted for 12% of the company's EBITA last year, were also up by 20%, led by a 22% increase in China.

Molson Coors (TAP), SABMiller (SBMRY) to combine forces in U.S.

Posted Oct 9th 2007 9:45AM by Tom Barlow (RSS feed)
Filed under: Deals,

Beer giants SABMiller (OTC: SBMRY) and Molson Coors (NYSE: TAP) took a huge step toward grabbing market share in North America by announcing today their intention to combine U.S. operations into a new company, MillerCoors. The new entity will start with combined U.S. sales of of 69 million barrels of suds, net revenues around $6.6 billion and combined EBITDA of $842 million. The companies expect combined production and distribution to lop off around $500 million from the annual expense side within three years. SAB and TAP also expect the move to boost both companies' EPS within the second year after integration is complete.

Voting interest in MillerCoors will be split 50/50, and the new company will be chaired by Peter Coors of Molson Coors. SABMiller, the larger of the two, will have a 58% financial interest.

Continue reading Molson Coors (TAP), SABMiller (SBMRY) to combine forces in U.S.

Analyst downgrades 8-02-07: ADSK, CMG, EDS and MRVL

Posted Aug 2nd 2007 11:18AM by Kevin Shult (RSS feed)
Filed under: Analyst reports, Analyst upgrades and downgrades, Bad news, Chipotle Mexican Grill'A' (CMG), , Marvell Technology Group (MRVL), Stocks to Sell

MOST NOTEWORTHY: Getty Images (GYI), Jackson Hewitt (JTX), Electronic Data (EDS), RC2 Corp (RCRC) and Chipotle Mexican Grill (CMG) were today's noteworthy downgrades:
  • Deutsche Bank cut Getty Images (NYSE: GYI) to Sell from Hold citing deterioration in its core business. Gabelli downgraded Getty Images to Hold from Buy after the company lowered guidance to reflect the changing industry dynamics.
  • Goldman cut Jackson Hewitt (NYSE: JTX) to Sell from Neutral citing near-term risks that include the renegotiation of the HSBC (HBC)/RAL contract, the DoJ/IRS investigation, and decreasing performance in tax.
  • Jefferies downgraded Electronic Data Systems (NYSE: EDS) to Hold from Buy to reflect the company's slowing cash flow improvement.
  • Wedbush downgraded RC2 Corp (NASDAQ: RCRC) to Buy from Strong Buy on the lower sales forecast for 2007. Soleil cut shares to Hold from Gradually Accumulate to reflect uncertainty over the Thomas recall and increased competition.
OTHER DOWNGRADES:
  • Lazard downgraded Kyphon (NASDAQ: KYPH) to Hold from Buy.
  • Credit Suisse downgraded AutoDesk (NASDAQ: ADSK) to Neutral from Buy.
  • CIBC downgraded Marvell Tech (NASDAQ: MRVL) to Sector Performer from Outperformer.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

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S&P 500+4.981,110.63

Last updated: November 27, 2009: 04:16 AM

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