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Fly News Breaks for July 31, 2019
HI, MCRN
Jul 31, 2019 | 08:20 EDT
As reported previously, Baird analyst Michael Halloran downgraded Milacron (MCRN) to Neutral from Outperform. The analyst said Q2 results were solid relative to sentiment with EBITDA outperforming his expectations on lower than expected revenue and margin upside. The company is due to be acquired by Hillenbrand (HI) and Halloran believes the implied price of $17.39 with cash and stock captures the stock's value.
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