Deutsche Bank Downgrades Harmon International (HAR) to Hold
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Deutsche Bank downgraded Harmon International (NYSE: HAR) from Buy to Hold with a price target of $112.
"We are raising our target to correspond with Samsung’s all cash offer of $112/share, which corresponds with 17x LTM earnings and 10x LTM EBITDA," said analyst Rod Lache.
Shares of Harmon International closed at $109.49 yesterday.
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