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Fly News Breaks for February 21, 2019
THRM
Feb 21, 2019 | 14:11 EDT
As previously reported, Craig-Hallum analyst Steve Dyer downgraded Gentherm to Hold from Buy, stating that he thinks the company's 2021 targets look "increasingly optimistic" and "aggressive" given the more challenging auto market. Though he views Gentherm as "a unique story," Dyer thinks multiple expansion and further valuation deviation from the secular growth auto supplier group is unlikely in the near term, he tells investors. He lowered his FY19 estimates to reflect the continued challenging automotive industry and cut his price target on Gentherm shares to $46 from $48.
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