- Citing reduced commercial aerospace demand visibility, Longbow analyst Christopher Olin downgrades Arconic (NYSE:ARNC) to Neutral from Buy going into Q2 updates by aerospace OEM companies.
- Channel checks are showing "too many negative survey data” to remain confident in the 2020 estimates for across the entire specialty materials group, according to Olin.
- He also notes that a potential rate cut announcement issued by Boeing or GE - due to an extended 737 MAX re-certification timeline - is likely to negatively impact investor sentiment in 2H19.
- ARNC -1.6% premarket
- Source: Blomberg First Word