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Fly News Breaks for September 20, 2018
NNBR
Sep 20, 2018 | 08:37 EDT
NN, Inc.'s recent equity raise eliminates high-cost debt, meaningfully reduces leverage, lowers annual interest expense by $21M, and removes an overhang on the shares, Lake Street analyst Robert Brown tells investors in a research note. He believes NN has now recapitalized its business and can focus on fully integrating the Paragon acquisition and driving margin expansion and free cash flow. The analyst thinks the company's upcoming analyst day is likely to be a positive catalyst and he reiterates a Buy rating on the shares with a $34 price target.
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