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Fly News Breaks for February 12, 2019
LABL
Feb 12, 2019 | 09:30 EDT
As previously reported, Sidoti analyst Christopher McGinnis downgraded Multi-Color to Neutral from Buy as he lowered his multiple to value the stock to reflect consistent underperformance following the company's report of weaker than expected Q3 earnings and guidance cut. While the company confirmed that it hired Goldman Sachs to perform a strategic review of the business, it provided no additional details on the conference call, McGinnis noted. He lowered his price target on Multi-Color shares to $42 from $69.
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