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Fly News Breaks for January 22, 2018
CSTE
Jan 22, 2018 | 07:43 EDT
Credit Suisse analyst Susan Maklari downgraded Caesarstone to Underperform from Neutral saying that while the company is working to better establish its industry positioning, the outcomes of its efforts remain uncertain. The analyst looks for profitability to remain under pressure through 2018 driven by ongoing inefficiencies at its Richmond Hill facility, extending cycle and set up times, and an ever more competitive landscape. Maklari also lowered her price target on the shares to $21 from $28.
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