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Fly News Breaks for March 4, 2020
WCC
Mar 4, 2020 | 08:33 EDT
RBC Capital analyst Deane Dray lowered the firm's price target on Wesco to $56 from $64 but keeps an Outperform rating on the shares. The analyst notes that the stock remains pressured from the looming equity issuance and leverage angst related to its Anixter deal, even though he is positive on its historically low multiple along with projected earnings accretion, EBITDA margin upside, and revenue synergy targets disclosed in its 8-K filing yesterday.
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