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Fly News Breaks for September 29, 2017
RRD, LKSD
Sep 29, 2017 | 05:06 EDT
Citi analyst Anthony Pettinari downgraded LSC Communications (LKSD) to Sell saying the near-to-medium term organic growth targets set during the separation from R.R. Donnelley (RRD) are unlikely to be achieved. The analyst expects secular pressures to continue and sees LSC's margins falling to 9% in 2018. The stock will underperform as 2017 guidance is likely to be lowered and the 2018 outlook may disappoint, Pettinari tells investors in a research note. He cut his price target for the shares to $14 from $18.
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