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Fly News Breaks for December 7, 2018
AMOT
Dec 7, 2018 | 08:39 EDT
Craig-Hallum analyst Greg Palm maintained a Buy rating on Allied Motion and raised his price target to $66 from $62 following the "solidly accretive" acquisition of TCI, which adds a complementary product portfolio, end market diversification and potential for significant long term synergies. In a research note to investors, Palm, who says Applied Motion is a top idea, says management has created substantial shareholder value over time with accretive M&A and says this acquisition appears to be no different.
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