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Fly News Breaks for January 14, 2020
FRTA
Jan 14, 2020 | 07:11 EDT
SunTrust analyst Rohit Seth upgraded Forterra to Buy from Hold with a price target of $16, up from $10. The analyst expects the company's earnings power to normalize over the coming 12 months, with its water business benefiting from a successful implementation of the recent price increase announcements. Seth adds that the two price increases coming after Forterra's strategic review have a "high probability of sticking", leading to an 80% rise in EBITDA over the next 2 years.
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