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Fly News Breaks for April 18, 2019
SRCL
Apr 18, 2019 | 07:49 EDT
Baird analyst David Manthey downgraded Stericycle to Underperform from Neutral and maintained a $44 price target, telling investors in a research note that he believes sentiment is "overly optimistic." Manthey says new management and reduced guidance "do not represent the solution," but rather the starting point of a "long road," and while he can envision a path to $80+ in 2023, it is "not an easy one." He thinks "demonstrably" better results will be years away and investors are "whistling past a myriad" of lingering issues.
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