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Fly News Breaks for January 16, 2020
USAP
Jan 16, 2020 | 05:49 EDT
KeyBanc analyst Phil Gibbs downgraded Universal Stainless & Alloy to Sector Weight from Overweight without a price target. The onset of aerospace distributor destocking activity "incrementally and strongly" will weigh on the company's Q4 and 2019 EBITDA, Gibbs tells investors in a research note. Further, the macro environment and recent inventory management may limit the unfolding of company-specific gross margin drivers, adds the analyst.
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