Roth Capital Downgrades Horizon Global Corp. (HZN) to Neutral

Roth Capital analyst Matt Koranda downgraded Horizon Global Corp. (NYSE: HZN) from Buy to Neutral with a price target of $3.00.

The analyst comments "We downgrade HZN to Neutral awaiting visibility on two items. First, we prefer a tangible line-of-sight toward the pay down of ~$100mn on the 1L term loan, which likely requires divestiture of at least one business segment at an attractive valuation. Second, the North American selling season appears to be taking longer-than-expected to ramp-up. With cold/wet Spring weather seemingly squeezing the bulk of the season into Q3’19, we plan to use our industry checks to monitor progress from the sidelines."

For an analyst ratings summary and ratings history on Horizon Global Corp. click here. For more ratings news on Horizon Global Corp. click here.

Shares of Horizon Global Corp. closed at $2.73 yesterday.

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