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Fly News Breaks for September 11, 2019
ALTR
Sep 11, 2019 | 06:10 EDT
JPMorgan analyst Jackson Ader assumed coverage of Altair Engineering and downgraded the shares to Underweight from Neutral with a price target of $34, down from $42. Altair has a high exposure to the automotive sector and cited manufacturing end-market headwinds as part of the reason for its lowered revenue guidance for the year, Ader tells investors in a research note. He believes the company's European manufacturing poses a risk with Eurozone manufacturing PMI data below 50 since January.
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