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Fly News Breaks for August 2, 2018
CCRN
Aug 2, 2018 | 07:56 EDT
As reported earlier, BMO Capital analyst Jeffrey Silber downgraded Cross Country Healthcare to Market Perform from Outperform and lowered his price target to $11 from $14 after its disappointing Q2 results and soft Q3 outlook. The analyst notes that despite the management's assessment of issues as end-market specific, its goal of organic growth in 2018 is unlikely to occur. Silber adds that the management's 8% adjusted EBITDA margin target by Q4 of 2019 would be a stretch "without a significant business rebound", which he says is unlikely.
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