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Fly News Breaks for January 29, 2020
USAP
Jan 29, 2020 | 07:51 EDT
Cowen analyst Tyler Kenyon lowered his price target on Universal Stainless & Alloy to $17 from $21 and reduced his 2020 forecast due to lack of visibility on the 737 Max. The analyst said the tenets of his thesis which includes prospects for increased margins and free cash flow, a deleveraging via the ramp in premium products, and efficiency investments, remain intact. Kenyon maintained his Outperform rating on Universal Stainless & Alloy shares.
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