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Stock Market & Financial Investment News

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June 24, 2014
07:41 EDTMTORMeritor settlement with Eaton disappoints, says JPMorgan
JPMorgan says the $209M Meritor (MTOR) will receive in its settlement with Eaton (ETN) fell short of its $450M estimate. The firm views the agreement as a disappointment and lowered its price target for shares to $14.50 from $15.50. JPMorgan thinks event-driven shareholders exiting the stock could prove a medium-term positive, however, and it keeps a Neutral rating on Meritor.
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