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Fly News Breaks for May 4, 2018
BGCP, NMRK
May 4, 2018 | 08:42 EDT
As previously reported, Sandler ONeill analyst Alexander Goldfarb downgraded Newmark (NMRK) to Hold from Buy, citing uncertainty over the timing to execute the company's planned tax-free spin and the potential for selling pressure as BGC Partners (BGCP) shareholders may end up quickly exiting their Newmark shares once distributed. Goldfarb has a $16 price target on Newmark shares.
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