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Fly News Breaks for December 9, 2016
ALSN
Dec 9, 2016 | 05:59 EDT
Piper Jaffray analyst Alexander Potter downgraded Allison Transmission to Underweight citing valuation with the stock at an all-time high and the competitive threat from electric drivetrains. The coming proliferation of electric vehicles will reduce demand for automatic transmissions, ultimately decreasing Allison's "already low" odds of growing in under-penetrated regions, Potter tells investors in a research note. He raised his price target for the shares to $30 from $28.