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Fly News Breaks for March 12, 2019
Mar 12, 2019 | 07:52 EDT
As previously reported, KeyBanc analyst Jeffrey Hammond downgraded Circor to Sector Weight from Overweight saying that with shares having reached his prior price target and valuation back in line with the historical average, he sees less runway from here compared to other small-cap value names within his coverage. In addition, while Hammond appreciates Circor's back-end-loaded earnings potential this year, persistent execution issues, including plant-related costs that will linger through the first half of 2019, have dampened his confidence in positive second half of the year fundamentals translating to the bottom line.
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