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Ferguson downgraded to Hold from Buy at Berenberg

Berenberg downgraded Ferguson (FERG) to Hold from Buy with a price target of $215, up from $200. The after the strong share price move recently, including a 17% rally on the day of the Q3 results, leaves the stock close to the price target the analyst tells investors in a research note. The firm thinks Ferguson is now trading close to fair value.

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