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Fly News Breaks for January 7, 2019
VOLVY
Jan 7, 2019 | 07:47 EDT
JPMorgan analyst Jose Asumendi downgraded Volvo to Neutral and lowered his price target for the shares to 150 kronor from 190 kronor. The European autos sector is unlikely to re-rate over the first half of the year, Asumendi tells investors in a reserved note. He expects most stocks to continue to be valued at "mid-cycle margin multiples" until the sector gains more certainty regarding global production schedules.
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