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Fly News Breaks for July 5, 2018
CORE
Jul 5, 2018 | 06:14 EDT
Loop Capital analyst Andrew Wolf raised his price target on Core-Mark to $32 from $30 and kept his Buy rating, citing a more constructive outlook from its management and "stabilizing cigarette consumption". Wolf notes that the company is gaining market share among independent convenience retailers, while its free cash generation plans are expected to produce a more deleveraged balance sheet. The analyst adds that this will give Core-Mark more financial flexibility with opportunity for M&A in 2019.
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