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Fly News Breaks for February 28, 2020
Feb 28, 2020 | 08:09 EDT
Baird analyst Peter Arment downgraded Flir Systems to Neutral from Outperform with a price target of $44, down from $59, after the company gave 2020 guidance that was below Street expectations and said weakness in commercial end markets has led to a broad restructuring. While he sees the formal sale process for its Raymarine unit as "very positive," Arment predicts the stock will "consolidate at lower levels" until there are signs of operational improvements and a recovery of growth coming in 2021.