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Fly News Breaks for June 4, 2018
CFX
Jun 4, 2018 | 06:34 EDT
BofA/Merrill analyst Andrew Obin downgraded Colfax to Underperform from Buy and cut its price target to $32 from $46 given macro volatility in Europe, the strengthening US dollar, and structural challenges in the Howden segment. Obin also said Colfax's discounted valuation limits M&A flexibility, further depressing the multiple.
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