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Fly News Breaks for January 23, 2019
MTOR
Jan 23, 2019 | 07:29 EDT
As previously reported, RBC Capital analyst Joseph Spak downgraded Meritor to Sector Perform but raised his price target to $19 from $18. The analyst notes that his positive view of the company's management and its long term strategy is intact, but sees valuation on Meritor as "mostly fair" with "limited upside to expectations". Spak further states that while the company's margins should improve in spite of the sales decline, the management's estimate of 12.5% margin by 2022 may be hard to achieve.
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