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Fly News Breaks for April 4, 2019
RLGY
Apr 4, 2019 | 07:18 EDT
PMorgan analyst Anthony Paolone lowered his operating EBITDA and adjusted earnings estimates for Realogy Holdings to reflect the "rough start to the year on the data front, especially in California," increasing interest expense, and the removal of stock buybacks going forward given the company's more restrictive covenants related to the bond deal. The analyst dropped his price target for the shares to $12 from $14 and keeps an Underweight rating on Realogy.
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