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Fly News Breaks for April 17, 2018
MNRO
Apr 17, 2018 | 08:19 EDT
Guggenheim analyst Ali Faghri initiated Monro with a Buy and $67 price target telling investors it is an attractive acquisition candidate in a rapidly consolidating repair shop sector. At a minimum, the analyst thinks a potential acquisition puts a floor on valuation and notes historical transactions in the sector point to 20% upside. Further, Faghri new management's focus on improving operations provides an opportunity for more sustainable same-store sales growth.
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