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Fly News Breaks for June 12, 2018
ROK, PTC
Jun 12, 2018 | 07:53 EDT
Baird analyst Rob Oliver noted Rockwell Automation (ROK) and PTC (PTC) announced a strategic partnership in which Rockwell will make a $1B equity investment in PTC. The analyst believes the partnership endorses PTC's technology and valuation as the investment is being made at a 9% premium. Oliver reiterated his Outperform rating and raised his price target to $103 from $95 on PTC shares.
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