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Fly News Breaks for April 17, 2018
MNRO
Apr 17, 2018 | 08:42 EDT
Stephens analyst Rick Nelson noted that Monro will unveil a 3 year financial plan at its analyst day in May and he expects the company to target modest same-store sales growth in FY19 followed by accelerating same-store sale growth surpassing industry growth of 3% in FY20-21. Industry sources indicate that an acquisition announcement from Monro is "pending," added Nelson, who would like to see the company do more M&A. He raised his price target on Monro shares to $59 from $48 and maintains an Equal Weight rating on the stock.
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