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Fly News Breaks for November 18, 2019
PQG
Nov 18, 2019 | 05:18 EDT
Goldman Sachs analyst Robert Koort downgraded PQ Group to Sell from Neutral with a price target of $16, down from $18. The analyst says his expectation for continued earnings underperformance, as well as the company's "relatively weak" leverage to a cyclical upturn, set up for a negative outlook into 2020. In addition, PQ Group's balance sheet "could amplify downside risks" while limiting room for upside optionality into a strengthening macro environment, Koort tells investors in a research note.
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