J.P. Morgan Lowers Dun & Bradstreet to 'Neutral'

Analyst Fred Searby sees weakness in the advertising holding company's international operations

J.P. Morgan downgraded Dun & Bradstreet (DNB ) to neutral from overweight.

Analyst Fred Searby says the company delivered solid quarterly results, with its Core North American business thriving, but adds that the company's international operations were one weak point. He says weakness in the company's European Direct Marketing does not bode well for major advertising holding companies such as Omnicon and Interpublic. He downgraded, as the stock is approaching what he believes to be a fair value with few impending catalysts.

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