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Fly News Breaks for May 2, 2019
FOXF
May 2, 2019 | 07:31 EDT
SunTrust analyst Michael Swartz raised his price target on Fox Factory to $70 after its Q1 earnings topped consensus and prior guidance. The analyst cites the 34% increase in the company's Powered Vehicle sales and also points to its operating leverage offsetting the slight gross margin miss. Swartz keeps his Hold rating on Fox Factory however given its 20-times expected forward EBITDA multiple valuation.
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