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Fly News Breaks for June 26, 2019
MWA
Jun 26, 2019 | 05:32 EDT
Goldman Sachs analyst Brian Lee downgraded Mueller Water to Sell from Neutral, stating that execution remains uneven and he sees near-to-medium term downside risk to consensus estimates given his expectation for weaker incremental margins. He also notes that the company has industry-leading exposure to the housing end market, which he thinks is likely to be an ongoing headwind. Lee cut his price target on Mueller shares to $8 from $10.
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