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Fly News Breaks for March 29, 2019
EXP
Mar 29, 2019 | 08:43 EDT
Sachem Head has accumulated a 9% stake in Eagle Materials and is pushing to break up the company, Jefferies analyst Philip Ng tells investors in a research note. The shares could see upside approaching $99, Ng contends, citing his sum-of-the-parts analysis. As a standalone U.S. cement company, the stock "would re-rate and be an attractive takeout candidate," says the analyst. He keeps a Buy rating on Eagle Materials with an $88 price target.
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