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Fly News Breaks for February 11, 2016
WPC
Feb 11, 2016 | 06:23 EDT
Capital One downgraded W.P. Carey to Equalweight and reduced its price target to $60 following the announcement that CEO Trevor Bond departed, that guidance will not be announced until the May 2016 1Q16 earnings call, and that the timing for the outcome of the strategic review is uncertain and likely also delayed beyond our prior expectations. In addition, Katy Rice, the former CFO and Senior Managing Director who shifted to an internal advisory role, also departed.