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Stock Market & Financial Investment News

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July 9, 2014
07:43 EDTORBWorries about Orbital Sciences Export-Import exposure overdone, says Wells Fargo
Wells Fargo believes that some of Orbital Sciences' recent underperformance could be due to investors' concerns about the impact of the potential wind-down of the U.S. Export-Import Bank on Orbital. However, the firm reports that only about 2% of Orbital's sales, accounting for less than 2% of its EPS, may be backed by the bank. The firm says that the company could obtain funding from other sources to replace funding from the Export-Import Bank if it is shut down. Wells Fargo keeps an Outperform rating on Orbital.
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