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BID

Sotheby's

$38.92

-0.15 (-0.38%)

06:06
11/29/16
11/29
06:06
11/29/16
06:06

Sotheby's looks to block suit over da Vinci painting, NY Times reports

Sotheby's has become entangled in a dispute between Swiss art dealer Yves Bouvier and billionaire Russian collector Dmitry Rybolovlev involving the private sale of Leonardo da Vinci's Christ as Salvator Mundi, which was allegedly sold for $80M through Sotheby's to Bouvier and resold to Rybolovlev for $47.5M more, The New York Times reports. Sotheby's is currently trying to block a lawsuit, saying in court papers "apparently experiencing seller's remorse, are trying to gain the benefit of a subsequent sale price that Sotheby's had nothing to do with." Reference Link

BID Sotheby's
$38.92

-0.15 (-0.38%)

02/26/16
BRRR
02/26/16
DOWNGRADE
BRRR
Market Perform
Sotheby's downgraded to Market Perform from Outperform at Barrington
02/26/16
BRRR
02/26/16
DOWNGRADE
BRRR
Market Perform
Sotheby's downgraded on slowing demand, employee losses at Barrington
As previously reported, Barrington analyst Kristine Koerber downgraded Sotheby's to Market Perform from Outperform, citing the company's loss of some senior employees, which she believes could result in a loss of important relationships and business, as well as slowing demand in the high-end art market.
04/14/16
STPT
04/14/16
DOWNGRADE
STPT
Hold
Sotheby's downgraded to Hold from Buy at Standpoint Research
08/09/16
COWN
08/09/16
NO CHANGE
Target $36
COWN
Market Perform
Sotheby's price target raised to $36 from $28 at Cowen
Cowen raised its price target on Sotheby's to $36 from $28 citing encouraging strategic initiatives focused on driving solid auction commission margins and judicial use of guarantees. Cowen maintained its Market Perform rating on Sotheby's shares.

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