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Fly News Breaks for November 6, 2017
MOG.A
Nov 6, 2017 | 09:18 EDT
SunTrust analyst Michael Ciarmoli raised his price target on Moog to $87 and kept his Hold rating after the company's Q4 results and initial FY18 outlook on Friday. Ciarmoli says his model suggests the company is conservative in its view, forecasting FY18 EPS at the upper end of $3.90-$4.30 target range as a result of end-market strength and lower R&D. The analyst warns that free cash flow growth will trend down toward 100% versus the 5-year average of 135% due to increased capital expenditures to support the construction of two new facilities.
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