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Fly News Breaks for December 17, 2019
HDS
Dec 17, 2019 | 09:43 EDT
BofA/Merrill analyst Andrew Obin downgraded HD Supply to Neutral from Buy with a price target of $43, down from $51. In a research note to investors, Obin says he thinks inconsistent execution over the past few quarters in both the Facilities Maintenance and Construction & Industrial segments has dampened company outgrowth. Obin notes that he is moving to Neutral rather than Underperform, as he says valuation is "far from challenging."
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