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Fly News Breaks for August 19, 2016
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Aug 19, 2016 | 11:43 EDT
In a pre-open note, Credit Suisse analyst Paul Condra lowered Alliance Data to $161 from $190 based on a sum-of-the-parts valuation that more accurately reflects the debt risk of the non-bank businesses as a majority of the GAAP earning were derived from the card business and deserve a card-lender multiple. Condra has an Underperform on Alliance Data shares.
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