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Fly News Breaks for August 2, 2019
WCC
Aug 2, 2019 | 08:05 EDT
As previously reported, Buckingham downgraded Wesco to Neutral from Buy and reduced the price target to $50 from $58 following the Q2 report. Analyst Robert Barry lowered estimates towards the low end of guidance saying he sees increased top line uncertainty, but also a more challenging pricing environment, and growing downside risk in the second half. Barry sees little opportunity for multiple expansion and thinks risk/reward is more balanced.
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