Information Provided By:
Fly News Breaks for December 16, 2019
Dec 16, 2019 | 07:10 EDT
As previously reported, Longbow analyst Christopher Olin downgraded Carpenter Technology to Neutral from Buy and lowered his estimates based on reduced demand and margin visibility. His review of "less-bullish" calendar fourth quarter survey data along with the changing macro environment leave Olin with less confidence in SAO segment volume and pricing assumptions for FY20, said the analyst, who added that this view was supported by the early demand inflection pointed to in recent checks with specialty alloy channel contacts.