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Fly News Breaks for March 27, 2017
ABCO
Mar 27, 2017 | 08:39 EDT
As previously reported, Baird upgraded The Advisory Board to Outperform from Neutral and raised its price target to $53 from $50. Analyst Matthew Gillmor believes the likelihood of the company being acquired has increased considerably in recent days, given reported interest from multiple strategic buyers. Further, potential downside risk remains relatively limited considering the strong rally within the Health IT group combined with Elliot's involvement threat of activist demands, the analyst wrote. Gillmor views a $55 takeout price as reasonable, with upside into the low $60s depending on the buyer's view of strategic value.
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