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Fly News Breaks for November 6, 2019
PRMW
Nov 6, 2019 | 08:52 EDT
As previously reported, Lake Street analyst Mark Argento downgraded Primo Water to Hold from Buy with a price target of $14, down from $18, after the company lowered its FY19 guidance "again" and announced the termination of CEO Matt Sheehan. He prefers to move to the sidelines until he rebuilds confidence in the trajectory of the business and management's strategy following another quarter of reduced guidance and poor refill performance and given the CEO transition, Argento tells investors.
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