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In a report published Tuesday, Keefe, Bruyette & Woods analyst Bose George downgraded the rating on
CorelogicCLGX from Outperform to Market Perform, and lowered the price target from $36.00 to $32.00.
In the report, Keefe, Bruyette & Woods noted, “CLGX reported earnings that came in largely in line with our expectations. However, the company reduced guidance by about 10%. We are lowering our EBITDA estimates to be in line with management guidance. We lower our price target to $32 from $36 to incorporate the lower earnings outlook and to incorporate a lower target multiple. We are reducing our rating to Market Perform from Outperform.”
Corelogic closed on Monday at $27.90.
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