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Fly News Breaks for September 17, 2019
CIR
Sep 17, 2019 | 07:06 EDT
As previously reported, KeyBanc analyst Jeffrey Hammond upgraded Circor to Overweight from Sector Weight, with a $50 price target, after spending time with management. The analyst sees a wide range of potential outcomes that generally support a higher stock price, including arriving at 2020 targets, or equivalent figures net of divestitures, divesting the Energy business to accelerate deleveraging and refocus the portfolio around less volatile Industrial and Aero assets, or falling short of targets and/or failing to monetize the Energy assets, commencing a change of leadership and/or renewed takeout chatter.
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