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Fly News Breaks for October 25, 2019
PATK
Oct 25, 2019 | 08:37 EDT
Baird analyst Craig Kennison raised his price target on Patrick Industries to $54 from $46 and elevated it to a Fresh Pick. The analyst said the company reported mixed Q3 results but he believes significant progress has been made to clear excess inventory, setting up better trends for 2020. He said investor attitudes towards consumer cyclical companies is improving, RV and Marne markets are bottoming, estimates are biased higher, and its valuation is attractive. Kennison reiterated his Outperform rating on Patrick Industries shares.
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