KeyBanc analyst Donald Hooker downgraded PRA Health to Sector Weight from Overweight and lowered his model estimates to bake-in additional caution with respect to the performanceof the Symphony Health business that was acquired in late 2017. Revenues declined y/y and management made a change in leadership with plans to make additional investments to grow the business, Hooker tells investors in a research note, adding that he is lowering his 2020E adjusted EBITDA to $582M with a base case valuation in line now with the broader biopharma outsourcing space.