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Fly News Breaks for April 12, 2018
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Apr 12, 2018 | 08:10 EDT
Argus analyst John Eade says yesterday's earnings-driven decline in Fastenal stock price offers investors a buying opportunity. Eade notes that shares have been volatile amid expectations of higher government spending, but the company can be susceptible to cash flow generation variability from quarter to quarter. The analyst keeps his Buy rating and $62 price target on Fastenal, noting signs of improvement in the energy secto as well as the benefits from lower tax rates.
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