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Fly News Breaks for April 2, 2019
EXP
Apr 2, 2019 | 07:25 EDT
DA Davidson analyst Brent Thielman downgraded Eagle Materials to Neutral from Buy and lowered his price target to $88 from $90, saying shares have experienced a significant recovery since the beginning of the year, due in part to what he believes was an overly severe correction in calendar the second half of 2018 and, more recently, news of activist investor involvement. With shares nearing Thielman's sum-of parts implied value range, the analyst says he is moving to the sidelines for now.
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