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Fly News Breaks for April 4, 2019
EXP
Apr 4, 2019 | 07:23 EDT
Stifel analyst Stanley Elliott noted that Sachem Head Capital, in disclosing its nearly 9% stake in Eagle Materials and pushing for a sale of the frac sand business and potentially other business units, said it believes Eagle is worth upwards of $130 per share in a sale. In his own sum-of-the-parts analysis, Elliott arrived at the conclusion that Eagle should be valued at upwards of $95-$100 per share, he tells investors. Elliott maintains a Buy rating and $94 price target on Eagle Materials shares.
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