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Fly News Breaks for October 31, 2019
IR, GDI
Oct 31, 2019 | 06:41 EDT
Credit Suisse analyst John Walsh downgraded Gardner Denver (GDI) to Neutral from Outperform with a price target of $32, up from $30. The analyst, who continues to see strategic value in the combination of Gardner Denver with Ingersoll-Rand's (IR) industrial business, does not see a catalyst to drive the stock higher. The stock's risk/reward is balanced given short- to mid-term energy fundamentals, especially Upstream, Walsh tells investors in a research note.
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