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Fly News Breaks for March 17, 2017
MG
Mar 17, 2017 | 12:18 EDT
As previously reported, BofA Merrill Lynch analyst Andrew Obin downgraded Mistras to Neutral from Buy, stating that the 2017 outlook that the company gave along with its reporting of results for the stub period ending 2016 appears to be below his expectations. The analyst, who notes that Mistras is transitioning to calendar year reporting, making comparisons difficult, cut his price target to $21 from $31, also citing its below peer growth and lower free cash flow outlook.
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