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Fly News Breaks for October 18, 2016
ERJ
Oct 18, 2016 | 06:35 EDT
Cowen analyst Cai von Rumohr upgraded Embraer to Outperform with a $24 price target saying the new CEO's aggressive restructuring plan should drive margins and cash flow. The analyst said the aggressive plan to cut costs should bolster Embraer's profitability, leading RJ business with backlog extending into 2018, when E2 jet delivery begins, and help the struggling bizjet/defense operations.
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