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Fly News Breaks for April 15, 2019
PATK
Apr 15, 2019 | 08:17 EDT
KeyBanc analyst Brett Andress raised his price target for Patrick Industries to $60 from $55 following his recent trip with the company's CEO Todd Cleveland and President Andy Nemeth, as he came away with increased conviction that the RV industry is nearing the final innings of inventory destocking, against a backdrop of intact consumer demand ahead of selling season. The analyst adds that the company continues to take organic market share within all of its end markets, and remains an acquirer of choice with ample M&A runway ahead, lending further confidence to this unique growth story. Andress reiterates an Overweight rating on the shares.
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