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Fly News Breaks for September 27, 2019
Sep 27, 2019 | 06:38 EDT
BofA/Merrill analyst David Chu downgraded FactSet Research Systems to Underperform from Neutral with a $230 price target after the company introduced an accelerated three- year investment plan and fiscal 2020 guidance that was well below expectations. The analyst is skeptical of FactSet's fiscal 2022 targets. He views the industry as largely as a zero sum game and points out key competitors are also making similar investments. Further, FactSet's operating environment remains difficult, Chu tells investors in a research note.
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