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PAE - PAI stock falls after abrupt CEO exit Deutsche Bank downgrade
PAE Incorporated
PAE (PAE) falls 4.8% in premarket trading after the company's CEO, John Heller, unexpectedly resigns.Deutsche Bank analyst Ashish Sabadra downgrades the stock to Hold from Buy due to the abrupt leadership transition and the potential for business disruptions and execution risks.Trims price target to $10.50 from $12.00.Still, Sabadra remains positive on the company's "new wins and robust bid pipeline delivering growth in FY21."