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Fly News Breaks for July 22, 2019
NBEV
Jul 22, 2019 | 09:17 EDT
As previously reported, Northland analyst Mike Grondahl downgraded New Age Beverages to Market Perform from Outperform after having lowered his estimates for the second half of the year to reflect a "more realistic" ramp of revenues and adjusted EBITDA. The analyst, who lowered his 2019 revenue estimate to $283M from $320M, cut his price target on the stock to $5 from $8.
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