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Fly News Breaks for June 13, 2019
CPS
Jun 13, 2019 | 04:51 EDT
Goldman Sachs analyst David Tamberrino downgraded Cooper-Standard to Sell from Neutral and lowered his price target for the shares to $36 from $51. The company's production-levered content is "not differentiated enough to fight the cycle" and its exposure to manufacturers, particularly to Ford (F), is unfavorable, Tamberrino tells investors in a research note. Further, Cooper-Standard's non-automotive business growth "looks further out than previously anticipated," adds the analyst. He sees 14% downside potential in the shares.
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