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Fly News Breaks for September 11, 2017
UTX, COL
Sep 11, 2017 | 09:35 EDT
Bernstein analyst Douglas Harned downgraded Rockwell Collins (COL) to Market Perform from Outperform following its board approval of United Technologies' (UTX) planned acquisition at a nominal price of $140/share. The analyst says the stock has moved above $130 related to the deal, and he is concerned that Rockwell Collins' acceptance of a $140 deal price indicates that internal forecasts are more pessimistic than his. He kept a $137 price target on Rockwell Collin's shares, but lowered hist target for United Technologies to $126 from $135, while reiterating a Market-Perform rating.
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