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Fly News Breaks for June 21, 2018
MC
Jun 21, 2018 | 07:24 EDT
As previously reported, Morgan Stanley analyst Betsy Graseck downgraded Moelis to Equal Weight from Overweight, noting that the stock's multiple has now hit its "high water mark" since the IPO four years ago. Revenue growth in Q1 was likely the peak for 2018 and Q2 will likely mark the low point of growth for the year, added Graseck, who keeps a $63 price target on the stock.
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