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Mayville Engineering initiated with a Buy at DA Davidson

DA Davidson initiated coverage of Mayville Engineering (MEC) with a Buy rating and $23 price target The company has established itself as the clear leader in its industry of Truck and Machinery components production, and its recent M&A is only extending this lead, the analyst tells investors in a research note. The recent implementation of a new business system further support Mayville’s higher margin profile through the cycle, the firm added.

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