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Fly News Breaks for March 18, 2019
REVG
Mar 18, 2019 | 07:25 EDT
BMO Capital analyst Joel Tiss lowers his price target on REV Group to $12.50, saying execution issues drove shares down over the past year, but also believes that the move has been overdone. The analyst is keeping his Outperform rating on REV Group based on its "very reasonable valuation and extended backlog". Tiss also cites the company's steady growth of demand tied to municipal spending, adding that the company's "long-term strategy to build a top-tier manufacturer of specialty vehicles is still intact".
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