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Fly News Breaks for August 8, 2018
BECN
Aug 8, 2018 | 08:15 EDT
As previously reported, Wells Fargo analyst Truman Patterson downgraded Beacon Roofing to Underperform from Market Perform as he believes the past two quarterly results, conference calls and downward revisions have introduced a large degree of uncertainty in the company on revenue growth, margin performance and synergy potential, which creates a muddied outlook for 2019 EBITDA estimates. The analyst also lowered his price target on the shares to $33 from $53.
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