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Fly News Breaks for June 28, 2016
MTOR
Jun 28, 2016 | 06:40 EDT
Piper Jaffray analyst Alexander Potter downgraded Meritor to Underweight saying the company is likely to "fall out of favor" following the Brexit vote since it derives around 20% of its revenue from Europe. The analyst cut his estimates to reflect lower truck production estimates in the U.S. and Europe. He dropped his price target for the shares to $6 from $6.50.
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