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Fly News Breaks for January 15, 2019
SITE
Jan 15, 2019 | 09:07 EDT
As reported earlier, SunTrust analyst Keith Hughes downgraded SiteOne Landscape to Hold from Buy and lowered his price target to $64 from $79. The analyst cites "weakening trends in residential markets", capping the stock's recent rally amid "stagnant" comps. Hughes also sees SiteOne Landscape trading with a premium multiple and a stalling of its EBITDA margin expansion in the 8.0%-8.5% range - below the company's 10%+ target.
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