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Fly News Breaks for March 5, 2020
ARMK
Mar 5, 2020 | 06:15 EDT
Bernstein analyst Richard Clarke upgraded Aramark to Outperform from Market Perform. Global catering, normally seen as a relatively defensive sector, is facing specific risks from the coronavirus outbreak, Clarke tells investors in a research note, adding that he assumes as a "realistic bear" case that there will be a 3-week universal closure for businesses, stadia, and education sites. Under this scenario the catering names look largely oversold, Clarke says.
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