As previously reported, Craig-Hallum analyst Matt Hewitt downgraded Aceto to Sell from Hold after the company last night announced the resignation of its CFO, suspended FY18 guidance, reported asset impairment charges and said it expects to make a "significant reduction" in its dividend. The suspension of guidance and the cut to the dividend suggest the competitive pressures Aceto has been experiencing in oral solids and APIs have worsened, said Hewitt, who believes the company could raise $150M-$200M to reduce its debt balance if it were to sell off the Performance Chemicals segment. Hewitt, who previously had an $8 price target on the stock, removed the target as he awaits visibility on the company's options to stabilize its business.