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Fly News Breaks for August 23, 2019
TGI
Aug 23, 2019 | 07:22 EDT
As previously reported, Barclays analyst David Strauss downgraded Triumph Group to Underweight from Equal Weight as he doesn't foresee meaningful free cash flow over the next several years, estimating annual free cash flow well below $100M through FY22. He estimates the proposed sale of its non-core Aerospace Structures unit could "optimistically" generate about $550M in proceeds, which "really only covers the associated pension deficit," Strauss added. He lowered his price target on Triumph shares to $20 from $23.
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