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Fly News Breaks for May 14, 2018
FBHS
May 14, 2018 | 06:22 EDT
BofA/Merrill analyst John Lovallo downgraded Fortune Brands to Neutral and lowered its price target to $62 from $70. The analyst expects slightly below industy average adjusted EBITDA growth through 2020 and sees risk to Fortune's topline and margin outlook due to continued soft industry data, changing consumer trends,and competitor promotional activity.
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