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Fly News Breaks for October 15, 2019
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Oct 15, 2019 | 08:53 EDT
Argus analyst John Eade raised his price target on Fastenal to $41 and kept his Buy rating after its Q3 earnings beat while also citing the management's confidence in the business based on its four dividend hikes over the past two years. The analyst notes that the stock price has been volatile recently amid expectations for increased government spending on infrastructure projects against negative tariff-related headlines, but believes that the company can generate mid-single-digit sales growth and high single-digit EPS growth over the long term.
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