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Fly News Breaks for August 17, 2018
Aug 17, 2018 | 06:22 EDT
BofA/Merrill analyst Shaun Kelley downgraded Bluegreen Vacations two notches to Underperform from Buy and lowered its price target to $19 from $26 following the Q2 miss. Kelley lowered estimates to reflect slower sales growth and believes a valuation closer to peers is warranted given execution risks, reduced visibility on VOI sales, and lack of catalysts.
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