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Fly News Breaks for July 24, 2019
XLI, SWK
Jul 24, 2019 | 10:35 EDT
As previously reported, Gabelli analyst Justin Bergner downgraded Stanley Black & Decker (SWK) to Hold from Buy, citing valuation following the stock's recent outperformance compared to the Industrial Select Sector SPDR (XLI). Normalized free cash flow conversion "suggests [Stanley] is not as cheap as P/E would suggest," added Bergner.
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