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Fly News Breaks for January 6, 2016
TYC
Jan 6, 2016 | 07:24 EDT
RBC Capital analyst Deane Dray downgraded Tyco to Sector Perform and lowered his price target to $34 from $41 on shares. Dray said Tyco looks positioned for muted 2016 growth and prefers names with more earnings visibility and less earnings cyclicality. Tyco's 2015 shares slide was triggered by oil, sluggish nonresidential, and guidance revisions, and it is unclear if theses have bottomed, the analyst wrote.
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