A KeyBanc Capital Markets analyst downgraded his rating on Whirlpool Corp. Wednesday after the U.S. International Trade Commission ruled against the appliance maker in its dispute with competitors over refrigerator imports.
THE OPINION: Analyst Kenneth Zener downgraded his rating on Whirlpool to "Hold" from "Buy", saying that the company's stock has limited room to grow following this decision.
The U.S. International Trade Commission found Tuesday that Whirlpool and other U.S. appliance makers were not harmed by competitors importing bottom-mount refrigerators from South Korea and Mexico.
Whirlpool had filed a complaint last year that companies such as Samsung Electronics Co., LG Electronics Inc. and others were "dumping" their appliances in the U.S. by selling them at less than fair value. The company asked U.S. regulators to impose extra duties on its competitors for these actions. |
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Source: cbsnews
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