Forterra Announces Its First Quarter 2017 Results
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Forterra (FRTA) PT Lowered to $18 at Barclays After Updating Estimates
May 16, 2017 9:33 AM EDTBarclays lowered its price target on Forterra (NASDAQ: FRTA) to $18.00 (from $23.00) while maintaining a Overweight rating. Barclays cut estimates to reflect significant near-term challenges around cost, pricing, and project delays.
Barclays now estimates 2017 and 2018 adjusted EBITDA of $212 and $285 mn compared with prior estimates of $282 and $320 mn.
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