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Fly News Breaks for December 16, 2016
AB
Dec 16, 2016 | 08:39 EDT
BofA/Merrill analyst Michael Carrier downgraded AllianceBernstein two notches to Underperform and lowered its price target to $22 from $25. The analyst does not expect the company to benefit from U.S. tax reform given its structure and expects a rotation out of fixed income to impact organic growth.
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