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Fly News Breaks for January 24, 2019
BID
Jan 24, 2019 | 07:49 EDT
As reported previously, Cowen analyst Oliver Chen downgraded Sotheby's to Market Perform from Outperform. The analyst expects a global art auction slowdown due to a more challenging high-end consumer market, slowing China and emerging market GDP growth. Chen, who also cited tough two-year comps, lowered his price target to $44 from $50 on Sotheby's shares.
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