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Fly News Breaks for August 25, 2017
IIIN
Aug 25, 2017 | 07:48 EDT
As previously reported, Longbow downgraded Insteel to Neutral from Buy. Analyst Chris Olin said recent construction metal channel checks indicate weaker-than-expected volume trends and said near-term visibility for metal fabricators is cloudy. Further, visibility into infrastructure-related spending, slowing long product orders after the Section 232 investigation push-out, and other macro uncertainties have forced distribution/fabrication contacts to lower full-year expectations.
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