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Fly News Breaks for January 3, 2018
MYE
Jan 3, 2018 | 05:56 EDT
Wells Fargo analyst Christopher Manuel upgraded Myers Industries to Outperform and raised his price target for the shares to $24 from $20. The company could direct up to $150M to acquisitions during the first half of 2018, resulting in an incremental 25c-40c per share of free cash through time, Manuel tells investors in a research note. He estimates this has potential to drive $3-$5 upside to shares over the next 24 months. Further, the analyst believes an accelerating economy should drive improved demand for Myers' Material Handling segment.
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