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Fly News Breaks for November 30, 2018
HXL
Nov 30, 2018 | 12:00 EDT
Canaccord Genuity analyst Ken Herbert calls Hexcel's $160M acquisition of ARC Technologies a "nice addition." The analyst likes the deal for its "growth potential, diversity and expansion of capabilities." He believes ARC's business is seeing high-single digit organic growth and should experience "good growth" into 2019-2020 due to its military exposure. Herbert is "encouraged" to see the acquisition and continue to view M&A as a positive catalyst for Hexcel. The analyst keeps a Buy rating on the shares with an $80 price target.
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