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Fly News Breaks for April 1, 2019
FOE
Apr 1, 2019 | 05:13 EDT
BMO Capital analyst John McNulty downgraded Ferro to Market Perform from Outperform and lowered his price target for the shares to $20 from $22. With a slower macro backdrop in Europe, especially in the housing and auto end-markets, Ferro will see continued earnings pressure over at least the next year, McNulty tells investors in a research note. As a result, the analyst struggles to see how the stock outperforms the broader chemical space.
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