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Fly News Breaks for July 12, 2017
ROCK
Jul 12, 2017 | 09:17 EDT
Coker Palmer Institutional analyst Brad Meikle initiated Gibraltar Industries with a $16 price target and no formal rating. The stock closed yesterday at $34.20. Due to weakness in renewables, the company will "substantially miss" consensus estimates in the second half of 2017, Meikle tells investors in a research note. The 17% operating margins for the company's RBI Solar unit reported in 2016 are "utterly unsustainable," the analyst contends. He points out that RBI is the only supplier of utility scale mounting systems that does not currently offer a tracker solution and that Gibraltar's residential mailbox and infrastructure units are slow growers.
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