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Fly News Breaks for August 8, 2019
Aug 8, 2019 | 08:01 EDT
Raymond James analyst Jayson Bedford downgraded ICU Medical to Outperform from Strong Buy and lowered his price target to $205 from $295. In a research note to investors, Bedford says that the company's earnings revision, while amplified by transient costs, is too big to ignore and the profitability of the business has been impaired, which impacts the ultimate value of the company. The analyst adds that he still believes ICU has a rightful place in the infusion therapy market and feels that, at some point, its share should improve, and while acknowledging that this setback is a hit to credibility, he still believes this management team can create value
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