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Fly News Breaks for October 24, 2016
ARCO
Oct 24, 2016 | 07:33 EDT
As previously reported, Morgan Stanley upgraded Arcos Dorados to Overweight from Equal Weight and raised its price target to $8 from $5. Analyst Jeronimo De Guzman expects top line trends to gradually improve driven by stronger employment trends and lower inflation and views valuation as attractive. He believes Arcos is well positioned for a recovery given increasing penetration of chained fast food, McDonald's dominant brand, and its ability to leverage McDonald's global platform.
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