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Fly News Breaks for July 18, 2018
GNRC
Jul 18, 2018 | 09:39 EDT
SunTrust analyst Charles Brady kept his Buy rating and $56 price target on General, saying the 4% slide in the stock price following the Goldman Sachs downgrade on Monday is a "buying opportunity" for investors. The analyst notes that the "modest decline" in the rig count is unlikely to lead to "material" impact on earnings, since its mobile products like generators that go into the energy market represent only about 10% of the company's total sales. Brady also forecasts the "stationary industrial genset market to grow low-to-mid single digits over the next several years" and the U.S. market to grow steadily for the next 5 years.
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