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Fly News Breaks for April 26, 2019
PATK
Apr 26, 2019 | 08:35 EDT
As previously reported, BofA/Merrill double downgraded Patrick Industries to Underperform from Buy with a $52 price target. Analyst John Lovallo changed his view citing the solid share performance and believes efforts to supply industries outside of recreational vehicles will not be sufficient in the near-term to offset the ongoing RV dealer inventory correction. The analyst expects the inventory correction to continue into Q3 2019, impacting manufacturers and suppliers to the greatest extent.
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