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Fly News Breaks for April 8, 2019
Apr 8, 2019 | 09:08 EDT
DA Davidson analyst Linda Bolton Weiser kept her Buy rating and $209 price target on WD-40 ahead of its Q2 earnings tomorrow, saying the company is likely to beat expectations on revenue and post an in-line earnings of $1.12 per share. The analyst notes that while oil price moved from $52 to $63 per barrel since the company's last update in January, she expects WD-40 to maintain its guidance because the management has previously assumed $70-$75 per barrel oil price. Weiser adds that she still sees petroleum-based input costs to be down in Q3 and for the company to post its first gross margin expansion since Q2 of 2017.
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