BrightView downgraded to Sell from Neutral at Goldman Sachs

Goldman Sachs downgraded BrightView to Sell from Neutral with a price target of $10, up from $8. The analyst believes the company’s actions to prune unprofitable or margin-dilutive contracts will weigh on near- to-medium term revenue performance in its landscape maintenance business, which generates two-thirds of its total revenue. BrightView’s decision to manage down its subcontractor business, which operates at lower margins, also creates headwinds to landscape maintenance revenue trends, the analyst tells investors in a research note.