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Fly News Breaks for July 12, 2019
Jul 12, 2019 | 07:24 EDT
BofA Merrill Lynch analyst Andrew Obin downgraded Parker-Hannifin (PH) to Neutral from Buy and double downgraded Rexnord (RXN) to Underperform from Buy, calling them both short-cycle exposed industrials for which he sees limited room for either multiple expansion or upward EPS revisions given slower global growth, trade uncertainty, and declining short cycle orders.
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