E Closed-End Funds And Stocks

*Teva was upgraded to neutral from underweight by Piper Jaffrey with a $16 target price, below its current price. It was upgraded from neutral to buy by UBS's Navin Jacob with a $24 target price because its new management is able to cut costs by shut-ins, downsizing, and closer surveillance of R&D spending to save a peak of $3.6 bn. After a trough this year, Jacob expects compound annual growth rate of 6% in 2020-22. TEVA rose 3%.

*Eisai (ESALY) of Japan is one of the “hidden backers” of privately held Blaze Bioscience which is being touted by Louis Navellier and Investorplace, as reported by Travis Johnson on Stock Gumshoe, a site which reveals the secret companies being pitched to sign up subscribers. Such newsletter promotions predict high gains from companies whose names are hidden so to get the name you have to subscribe. Or read Travis. This firm doesn't do drugs yet; it just has an imaging agent to help surgeons based on scorpion venom.

*Zymeworks should not be sold over concern that it is raising capital, because a shelf registration is only a place-holder. The odds are the $250 mn it filed for is unlikely to be raised unless it does a takeover itself, which Martin Ferrera thinks is possible. The total cap of ZYME is about $500 mn.

Energy

*While lower oil prices and a stronger pound sterling have hurt BP and Royal Dutch Shell, Cosan Ltd of Brazil is up 2.6% today. CZZ makes ethylene from bagasse (cane waste) and runs Latin gas stations.

*Sure Dividend predicts that Schlumberger Ltd (SLBwill offer an average return of 14.4% over the next 5 years despite contraction they predict in its p/e ratio. 

Miscellaneous

*CRH of Ireland was upped today from neutral to outperform by BNP Paribas at $28.50/sh.

*Unlike China Southern Airline which was tipped by JP Morgan as a beneficiary of lower oil prices, China Eastern Airline is less sensitive to fuel costs because it is more domestically oriented.

*Pres Trump named Prem Parameswaran, CFO of Eros and President of North America for EROS International plc, to become a member of his advisory committee on Asian American and Pacific Islanders.

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