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Fly News Breaks for December 23, 2015
SCS
Dec 23, 2015 | 07:29 EDT
As previously reported, Raymond James downgraded Steelcase to Market Perform from Strong Buy. Analyst Budd Bugatch said Steelcase will likely be in the "penalty box" for some time following disappointing Q3 results and guidance. Bugatch said management "torpedoed" its investor credibility with the timing and communication surrounding EMEA issues that he believes should have been communicated to investors earlier.
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