Argus Downgrades Fastenal (FAST) to Hold
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Argus downgraded Fastenal (NASDAQ: FAST) from Buy to Hold on a weaker near-term outlook.
The firm is again lowering EPS forecasts for this year and next based on expectations for narrower margins.
The analyst will look for a turnaround in sales growth or margins, or a nonfundamental selloff to near $30, as potential upgrade triggers.
Shares of Fastenal closed at $38.34 yesterday.
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