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Arconic cut to Neutral at Longbow on aerospace demand risk

Jul. 18, 2019 9:29 AM ETArconic Corporation (ARNC) StockARNCBy: Yoel Minkoff, SA News Editor
  • 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

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