Credit Suisse Downgrades Multi Packaging Solutions (MPSX) to Underperform
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Credit Suisse downgraded Multi Packaging Solutions (NYSE: MPSX) from Neutral to Underperform with a price target of $13.20 (from $15.30).
Analyst L. Kjellberg commented, "We downgrade MPSX to Underperform from Neutral. Our lowered rating reflects weak performance, lowered guidance, rising financial leverage and poor visibility. We lower our fiscal 2017, 2018 and EPS estimates by 4%, 3% and 3% to $0.67, $0.79 and $0.89, respectively and reduce our price target to $13.2 from $15.3."
Shares of Multi Packaging Solutions closed at $12.88 yesterday.
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