Credit Suisse Downgrades Precision Castparts (PCP) to Neutral

Credit Suisse downgraded Precision Castparts (NYSE: PCP) from Outperform to Neutral with a price target of $223.00 (from $289.00).

Analyst R. Spingam cited reduced visibility and the lack of a near-term catalyst. While the company may finally be turning a corner from a messaging perspective, it will not be known for sure until formal FY 2016 guidance is introduced in May, and if it is achieve. In the meantime the firm said they cannot justify the premium multiple.

For an analyst ratings summary and ratings history on Precision Castparts click here. For more ratings news on Precision Castparts click here.

Shares of Precision Castparts closed at $208.91 yesterday.

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