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Fly News Breaks for December 19, 2018
CIR
Dec 19, 2018 | 06:20 EDT
Stifel analyst Nathan Jones downgraded Circor to Hold and lowered his price target for the shares to $29 from $51. The analyst says leverage on the company's balance sheet, lower oil prices, and challenges in several of its businesses leaves "too many uncertainties." Circor's Fluid Handling business has significant European exposure which could see a slowdown, Jones tells investors in a research note. Further, he thinks the shares "are likely assigned to the penalty box" until the balance sheet is delevered significantly in the future.
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