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Fly News Breaks for August 1, 2019
PCRFY
Aug 1, 2019 | 07:51 EDT
Jefferies analyst Atul Goyal downgraded Panasonic to Hold from Buy and lowered his price target for the shares to 995 yen from 1,080 yen. The analyst cites the company's "continued earnings weakness and management's disappointing response to it" for the downgrade. He's disappointed management blamed the weaker than expected Q1 results on a weak macro environment in China and Europe instead of identifying weakness in its own business model.
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