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Fly News Breaks for April 13, 2018
APOG
Apr 13, 2018 | 06:29 EDT
DA Davidson analyst Brent Thielman lowered his price target on Apogee Enterprises to $47 from $50 but kept his Buy rating, saying the shortfall in guidance and margin outlook as part of yesterday's earnings announcement was mostly related to the acquired EFCO side of the business. The analyst adds that the company's ROC remains "respectable" while the low end of guidance still implies 10% EBITDA growth and 6% earnings growth. Thielman also points to market growth, strong balance sheet, and low street expectations as positives for Apogee.
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