DA Davidson Starts General Cable (BGC) at Neutral
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DA Davidson initiates coverage on General Cable Corp. (NYSE: BGC) with a Neutral rating and a $78 price target.
The firm said it remains optimistic on General Cable's long-term outlook, but is concerned with weakness in the U.S. housing market near-term. DA Davidson notes that it has seen a "sharp reduction in demand for distribution-related products."
General Cable Corporation provides copper, aluminum, and fiber optic wire and cable products in North America and internationally.
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