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Fly News Breaks for April 23, 2018
SRI
Apr 23, 2018 | 06:47 EDT
CL King initiated Stoneridge with a Buy saying the company is poised for accelerating top-line growth with a five year backlog almost six times the size of preliminary FY17 sales. The growth reflects significant content wins with OEMs, which is being fueled by industry-leading technology and products/offering, the firm's analyst wrote in a note to investors. Further, the analyst expects a rebound in the Control Devices segment in FY19 as the wind down of "Shift by Wire" technology sales are offset by the ramp-up of newer "Park by Wire" products.
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