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Fly News Breaks for September 12, 2019
MSM
Sep 12, 2019 | 07:22 EDT
Raymond James analyst Samuel Darkatsh downgraded MSC Industrial to Market Perform from Outperform citing valuation and demand weakness. In a research note to investors, the analyst lowered his Q4 and out-year estimates to reflect continued weakness in the MBI and rail traffic data, and now estimates FY19 EPS of $5.23 from $5.26 prior, and FY20 EPS of $5.23 from $5.75 prior. Darkatsh says despite the lowered financial expectations, the stock has recently rebounded along with the industrial sector, leaving its valuation no longer as compelling compared to historical levels.