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Fly News Breaks for October 18, 2018
STMP
Oct 18, 2018 | 09:26 EDT
Shares of Stamps.com dropped yesterday after the New York Times reported that President Trump plans to withdraw the U.S. from the Universal Postal Union, B. Riley FBR analyst Zach Cummins tells investors in a research note. The news created an "unwarranted" selloff in the shares given the company's limited exposure to China, the analyst contends. Further, Cummins believes potential outcomes from the U.S.'s possible withdrawal could serve as net benefit for Stamps.com over the longer term. The analyst keeps a Buy rating on the stock with a $300 price target.
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