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Fly News Breaks for July 2, 2018
RPM
Jul 2, 2018 | 06:57 EDT
JPMorgan analyst Jeffrey Zekauskas upgraded RPM International to Neutral from Underweight and raised his price target for the shares to $55 from $47. The analyst believes investors are now more willing to pay a higher multiple for RPM EBITDA because of new possibilities of cost reduction, changes in capital structure, or overall changes to the company given the involvement of activist Elliott Management. RPM on June 28 announced a cooperation agreement with Elliott.
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