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Fly News Breaks for December 31, 2018
BV
Dec 31, 2018 | 09:18 EDT
Baird analyst Andrew Wittmann lowered his estimates to the low end of his range on BrightView to reflect lower snow activity. The analyst, however, believes the recent weakness in the shares seem to be pricing in the lower activity for the quarter as well as the discounted adjustments. He also reminds investors in a research note of the steeper 2019 seasonal margin weakness due to higher costs and lack of major hurricane activity. Wittmann maintains an Outperform rating on BrightView but lowered his price target for the shares to $15 from $18.
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