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Prudential downgraded shares of American Standard (NYSE:ASD) to accumulate from strong buy after the company said it expects third quarter earnings per share to be close to analysts $0.88 estimate and earnings per share for all of 1998 to be in the $2.90-$3.00 range. Analyst Larry Horan told his salesforce that ASD management cited weaker than expected performance in the large chiller (air conditioning units for large buildings) sector, and lowered his price target for the stock from $59 to $35. Word on the Street brings you comments every trading day from Wall Street's top equity analysts on stocks or industries that are moving significantly. -- Good Solid Company at $26.06 Sept 22, 1998 -- What do you think? Phil | ||||||||||||||
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