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Fly News Breaks for June 21, 2018
ATU
Jun 21, 2018 | 09:12 EDT
SunTrust analyst Charles Brady raised his price target on Actuant to $27 after its "strong earnings beat" in Q3 driven by core growth in the Industrial and Engineered Solutions segments along with improving margins in Energy. Brady notes that he is also encouraged by the margin growth in that segment, even though it will be de-emphasized in FY19 when the company is reorganized into two segments. The analyst keeps his Hold rating on Actuant, warning that upcoming comps will become more difficult while inflationary headwind pressures will persist.
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