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Fly News Breaks for March 17, 2016
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Mar 17, 2016 | 07:22 EDT
Wells Fargo believes that the valuation of Alliance Data's stock is "exceptionally attractive." The firm thinks that worries about the company's Card Services business are overdone, as it says that the business's loss rates have historically been closely correlated with those of major card issuers, whose loss rates have been low in recent months. Wells expects Alliance Data's growth to accelerate to upper single digit levels in fiscal 2017, and it keeps an Outperform rating on the stock.
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