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Sensata downgraded to In Line from Outperform at Evercore ISI

Evercore ISI downgraded Sensata (ST) to In Line from Outperform with a price target of $27, down from $40. The firm thinks the turnaround that Sensata is undertaking will become more difficult in an increasingly challenging macro environment, though it adds that it doesn’t think there is “much absolute downside risk” barring a sizable drop in operating margins.

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