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Fly News Breaks for October 22, 2015
KSU
Oct 22, 2015 | 06:12 EDT
Macquarie downgraded Kansas City Southern to Neutral and lowered its price target to $92 from $100 on shares. Analyst Cleo Zagrean said Friday's surprise cut to the 2016 automotive outlook will likely impair investor confidence in the broader long-term outlook and valuation for a while. Zagrean sees further downside to consensus estimates as a a flat automotive is at the positive end of 2016 scenarios and investor sentiment will need several quarters of strong execution to recover.
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