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Fly News Breaks for January 8, 2020
B
Jan 8, 2020 | 07:23 EDT
SunTrust analyst Michael Ciarmoli upgraded Barnes Group (B) to Hold from Sell with a price target of $57, up from $49. In a research note to investors, Ciarmoli says he believes the ongoing grounding of the 737 MAX (BA) and organic growth headwinds in the company's industrial exposed end-markets will not have as material negative impact on the company's financials as he originally expected. The analyst notes that in terms of the 737 MAX, exposure is only about 2%-3% of total revenues, and says the risks are a concern but should prove manageable.
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