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Fly News Breaks for April 2, 2019
Apr 2, 2019 | 13:05 EDT
Barrington analyst Gary Prestopino maintained an Outperform rating and $40 price target on Stoneridge shares after the company announced the sale of assets related to its non-core switches and connectors product lines in its Control Devices business segment to Standard Motor Products for ~$40M, which is expected to impact FY19 EPS by 15c-20c and FY20 EPS by (5c)-0c. The analyst reduced his FY19 and FY20 adjusted EPS estimates to $1.50 and $1.90 from $1.70 and $2.07, respectively.
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