KeyBanc Downgrades Multi-Color Corp (LABL) to Underweight
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KeyBanc downgraded Multi-Color Corp (NASDAQ: LABL) from Sector Weight to Underweight with a price target of $67. Analyst Adam J. Josephson pointed out that organic EBIT has been flat to down over the past 1.5 years.
"LABL's shares are up 26% YTD (vs. 10% for the S&P 500) even though the consensus FY17 EBITDA estimate is down 3% over the same period. LABL's organic EBIT has been flat at best over the past year and a half. LABL sells to stable end markets, but its quarterly earnings performance has nonetheless been choppy over the past two years; LABL has reported roughly in-line EBITDA over the past three quarters following a large miss in its F3Q16 and a modest miss in F2Q16," said Josephson.
Shares of Multi-Color Corp closed at $75.20 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Downgrades
Related EntitiesKeyBanc, Standard & Poor's, Earnings
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