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Fly News Breaks for October 14, 2019
TXN, ARW
Oct 14, 2019 | 09:11 EDT
Longbow analyst Shawn Harrison called Arrow Electronics (ARW) "the clear winner" from news of of Texas Instruments' (TXN) consolidation of over $6B of distribution resales. The analyst, who noted that TI's plans to consolidate to six global distributors by the end of 2020 will leave Arrow as its sole fulfillment partner in North America, Europe, and Asia excluding Japan, thinks the stock's reaction thus far to the news "has been surprisingly underwhelming." Harrison maintains a Buy rating and $84 price target on Arrow shares.
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