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Fly News Breaks for December 2, 2019
ADT
Dec 2, 2019 | 06:14 EDT
BofA/Merrill analyst Gary Bisbee downgraded ADT Inc. to Neutral from Buy with a $9.50 price target. The analyst notes that while the valuation on the stock is "far from demanding" and investment sentiment in the name is still "subdued", he also sees "few catalysts" to warrant sustained outperformance. Bisbee believes that the risk-reward on ADT is now "more balanced" at current levels, forecasting "flattish" revenue along with slightly lower annualized profits and cash flow in 2020.
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