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Fly News Breaks for October 17, 2018
MLM
Oct 17, 2018 | 07:57 EDT
As previously reported, BofA/Merrill downgraded Martin Marietta to Neutral from Buy and cut its price target to $179 from 225. Analyst Timna Tanners thinks increased hurricane activity and unusually heavy rains have contributed to disappointing volumes and a lower multiple is more appropriate given lack of catalysts and concerns the US construction cycle is nearing a peak.
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