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Fly News Breaks for January 8, 2020
WAT
Jan 8, 2020 | 06:02 EDT
Needham analyst Stephen Unger downgraded Waters to Underperform from Hold without a price target. A series of end-of-the quarter channel checks revealed continued weakness in demand for LC instruments within the pharmaceutical end-market in Q4 and an expectation of continued sluggish demand in 2020, Unger tells investors in a research note. The analyst's channel checks also revealed weakness in demand among industrial customers for instruments sold by the TA Division. Further, employee defections are becoming a key concern, says Unger.
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