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Kilroy Realty on Dec. 30 announced the promotion of three executives within the company. Shares of the real estate investment trust (REIT) gained 2.2% at the close on Wednesday.

Kilroy Realty (KRC) CFO Tyler H. Rose was promoted to President. SVP and Treasurer Michelle Ngo was promoted to CFO and Treasurer. SVP of Corporate Strategy Eliott Trencher was promoted to SVP and Chief Investment Officer (CIO).

In his role as President, Rose will supervise operations, finance, accounting, legal, and risk management. He will also work with the CEO to help drive the company’s succession planning initiatives.

Ngo, as CFO, will have direct responsibility for the finance, accounting, tax, capital markets and investor relations functions for the company.

Trencher, as CIO, will be responsible for acquisitions, dispositions, joint ventures and new markets along with various other strategic initiatives. At the same time, he will also continue to supervise the company's residential portfolio.

"Tyler has been a leader at Kilroy for over two decades and included among his new responsibilities will be the transfer of knowledge to our next generation of leaders. Michelle and Eliott represent an emerging group of talented and diverse leaders being developed across the company. They have demonstrated expertise, strategic thinking and dedication, and have more than earned their new roles," said Kilroy Realty CEO John Kilroy.

JPMorgan analyst Anthony Paolone downgraded Kilroy Realty stock on Dec. 21 to Hold from Buy with a $65 price target. The price target implies upside potential of close to 15%.

On Oct. 28, BMO Capital analyst John Kim reiterated a Buy rating on KRC with a price target of $72 (27.2% upside potential).

Kim believed that the company's recent 3Q20 results came in about as good as expected, given current office market conditions. KRC's 3Q20 results were headlined by a 3Q20 beat, 3.8% SS NOI growth, healthy cash leasing spreads, and a strong balance sheet.

However, leasing activity slowed considerably, and leases signed were short term (1.5 years), as tenants remain uncertain of their future space requirements. Additionally, increasing sublease space and low utilization rates suggest weak West Coast office markets overall, Kim noted.

From the rest of the Street, the stock scores an analyst consensus of a Hold based on 1 Buy and 5 Holds. (See KRC stock analysis on TipRanks)

The average analyst price target of $64.33 implies upside potential of 13.6% to current levels. Shares have lost 33% year-to-date.

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Intercontinental Exchange on Dec. 30 announced that long-time board member Jean-Marc Forneri. Forneri passed away on Dec. 28.

Fournier had been a director of the data service provider for commodity and financial markets since 2002. He also served on the Board’s Nominating and Corporate Governance Committee and its Risk Committee. Following Forneri’s passing, the Board is presently comprised of 13 members.

“Jean-Marc was both a witness to, and participant in, the full span of our history, providing pivotal advice and leadership during his long service to our shareholders. We extend our sincere condolences to Jean-Marc’s family at this difficult time,” said Intercontinental Exchange (ICE) CEO Jeffrey C. Sprecher.

On Dec. 22, Compass Point analyst Christopher Allen raised the price target on the stock to $125 from $110 and reiterated a Buy rating. The new price target implies 10.5% upside potential.

The rating was provided after he adjusted his estimates to reflect new segment information and a "slightly more conservative" view on its expenses.

Allen likes Intercontinental Exchange's long-term story given structural growth opportunities in the mortgage segment and what he saw as its strong competitive in its exchange businesses. (See ICE stock analysis on TipRanks)

From the rest of the Street, the stock scores an analyst consensus of a Strong Buy based on 8 Buys and 2 Holds. The average analyst price target of $127.43 implies upside potential of 12.6% to current levels. Shares have gained 22.3% on a year-to-date basis.

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Devon Energy and WPX Energy on Dec. 30 both announced that their shareholders approved the all-stock merger between the two companies. Shares of Devon rose 5.4% and WPX gained 6.1% at the close on Wednesday.

The merger is expected to close on Jan. 7, 2021. At the special meeting held on Dec. 30, over 99% of the votes cast by Devon's and WPX's shareholders were in favour of the merger.

“This is an important milestone as we move toward uniting our complementary assets to create a leading U.S. energy company, with a focus on accelerating free cash flow growth and the return of capital to shareholders,” said Devon Energy  (DVN) CEO Dave Hager.

The merger agreement was first announced on Sep. 28. According to the agreement, the combined company will be named Devon Energy and is expected to benefit from enhanced scale, improved margins, higher free cash flow and dividend strategy.

As part of the deal, WPX (WPX) shareholders will receive a fixed exchange ratio of 0.5165 shares of Devon common stock for each share of WPX common stock owned. Following the transaction, Devon and WPX shareholders will own 57% and 43% of the combined company, respectively, on a fully diluted basis.

In reaction to the merger deal, Truist analyst Neal Dingmann on Dec. 23 raised the price target on DVN stock to $19 from $14 and reiterated a Buy rating. The new price target implies close to 18% upside potential.

According to Dingmann, there are a number of potential catalysts ahead to go along with the synergies and other positive metrics that surround the upcoming merger with WPX Energy.

Dingmann believes Devon would continue to be as disciplined as any E&P [exploration & production] maintaining its low leverage of ~1x and targeted growth up to 5% annually, if prices remained at least at current levels.

The analyst estimates that the company could potentially generate free cash flow of over $1.2 billion in 2022. (See DVN stock analysis on TipRanks)

From the rest of the Street, the stock scores an analyst consensus of a Strong Buy based on 13 Buys and 1 Hold. The average analyst price target of $19.14 implies upside potential of 18.6% to current levels. Shares have lost 37% year-to-date.

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USANA Health Sciences announced that its omega-3 supplement, BiOmega, was granted approval by ConsumerLab.com, which is an independent tester of health and wellness products.

The cellular nutrition company said that BiOmega is made with ultrapure fish-oil and supports cardiovascular, immune, and joint health.

USANA's (USNA) chief communications officer Dan Macuga said, “USANA's BiOmega supplement is an incredible product made to the highest of standards.” He added, “It is amazing to see our products continually receive seals of approval from ConsumerLab, and it's a point of pride for our customers to know they are taking the safest and best supplements available.”

The company said that besides BiOmega, its several other supplements are certified by ConsumerLab.com. (See USNA stock analysis on TipRanks)

On Dec. 17, Roth Capital analyst David Bain initiated coverage on the stock with a Buy rating. Bain remains optimistic about USANA's China business and said shares should rerate. Moreover, share repurchases, robust product line, and strong direct sales industry trends support his bullish view.

Bain has a price target of $107 (38.9% upside potential) on the stock. Shares were down about 2% year-to-date.

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Amazon announced the acquisition of podcast startup Wondery in a move to further strengthen its non-musical content on Amazon Music app.

Amazon (AMZN) didn’t disclose the financial terms of the deal. However, the company said that listeners will continue to access Wondery podcasts through several mediums following the deal closure.

Earlier this month, The Wall Street Journal had reported that the two companies are in exclusive discussion and a deal could probably value Wondery at $300 million.

In a blog posted on its website, the Amazon Music team said, “Amazon Music launched podcasts in September 2020, and together with Wondery, we hope to accelerate the growth and evolution of podcasts by bringing creators, hosts, and immersive experiences to even more listeners across the globe, just as we do with music. This is a pivotal moment to expand the Amazon Music offering beyond music as listener habits evolve.” (See AMZN stock analysis on TipRanks)

On Dec. 21, Monness analyst Brian White reiterated a Buy rating and a price target of $4,000 (21.7% upside potential) on the stock.

In a note to investors, White wrote, “we believe the company’s growth path is very attractive across the e-commerce segment, AWS [Amazon Web Services], digital media, advertising, Alexa and more. Also, we expect the COVID-19 to drive accelerated digital transformation, benefiting the company’s business model. Moreover, the company has started to deliver more attractive profit trends over the past couple of years.”

Overall, the consensus among analysts is a Strong Buy based on 35 Buys and 1 Hold. With shares up 77.8% year-to-date, the average price target of $3,805.76 implies further upside potential of about 15.8% to current levels.

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Acadia Healthcare announced that it has agreed to sell its UK business operations, which it operates under the name of The Priory Group, to Waterland Private Equity for $1.47 billion. Shares of Acadia Healthcare closed 3.6% on Wednesday.

Acadia (ACHC) expects the deal to fetch approximately $1.35 billion, “net of transaction costs and the settlement of existing foreign currency hedging liabilities and based on the current GBP/USD exchange rate.” The company intends to use the proceeds to pay down debt and for other general corporate purposes. The transaction is likely to close next month.

Acadia CEO Debbie Osteen said, "Since announcing our decision to explore strategic alternatives with respect to the Priory Business, our primary objective has always been to complete a transaction that would maximize value for our stockholders.” (See ACHC stock analysis on TipRanks)

Following the announcement, Jefferies analyst Brian Tanquilut raised the stock’s price target to $60 (23.6% upside potential) from $44 and reiterated a Buy rating.

Tanquilut said that the deal values the Priory business above investors’ expectations. As the company intends to use the proceeds of the sale to lower debt, the analyst expects Acadia’s valuation multiples to expand, reflecting a strong balance sheet and increased focus on US operations.

Overall, consensus among analysts is a Moderate Buy based on 4 Buys and 3 Holds. The average price target stands at $48.57 and implies downside potential of about 3.4% to current levels. So far this year, shares of ACHC have appreciated 51.4%.

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Shares of AMC Entertainment dropped 5.7% after the theatre operator filed a shelf offering with the SEC (Securities and Exchange Commission) to sell 50 million shares to raise up to $125 million in proceeds.

The announcement comes after AMC (AMC) had offered 200 million shares for sale earlier this month to keep its business afloat.

According to the SEC filing, the embattled theatre chain has sold roughly 38 million shares out of the 200 million shares available and raised about $104.2 million, as of Dec. 28.

The company said, “Our ability to obtain additional liquidity, which if not realized or insufficient to generate the material amounts of additional liquidity that will be required until we are able to achieve more normalized levels of operating revenues, likely would result with us seeking an in-court or out-of-court restructuring of our liabilities, and in the event of such future liquidation or bankruptcy proceeding, holders of our common stock and other securities would likely suffer a total loss of their investment.” (See AMC stock analysis on TipRanks)

Meanwhile, AMC stock has tanked over 70% year-to-date as the cash-strapped company is fighting to stave off bankruptcy amid the pandemic-led theatre closures.

Earlier in November, Barrington analyst James Goss maintained his Hold rating on AMC stock. In a note to investors, Goss said, “AMC has taken numerous actions to improve its financial position. However, significant uncertainty remains for the company due to the high degree of leverage in its business model.”

In view of AMC's financial challenges, analysts have taken a cautiously bearish outlook on the stock. The Moderate Sell consensus shows 4 Holds and 2 Sells. Meanwhile, the average analyst price target stands at $2.51 and implies 16.2% upside potential over the coming year.

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