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Fly News Breaks for December 9, 2019
SCHW, AMTD
Dec 9, 2019 | 07:45 EDT
Raymond James analyst Patrick O'Shaughnessy downgraded TD Ameritrade (AMTD) to Market Perform from Outperform. The analyst views the shares as fairly valued following the Charles Schwab (SCHW) merger announcement. In a research note to investors, the analyst says he believes likely accretion from merger synergies is largely reflected in Schwab's stock at this point and, given the all-stock deal terms, suggests limited upside to TD Ameritrade as well.
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