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Fly News Breaks for January 3, 2018
DORM
Jan 3, 2018 | 08:19 EDT
As previously reported, CL King analyst Scott Stember upgraded Dorman Products to Strong Buy from Neutral and set a $78 price target on the shares. Stember, who calls the stock his top pick for 2018, is more constructive on the company's fundamental outlook given signs of firming auto aftermarket sales, the potential for a new avenue of sales growth via the acquisition program, and expectations that the company will benefit from a lower corporate tax rate. He also cites valuation after Dorman shares declined 16% in 2017.
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