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Fly News Breaks for August 29, 2019
ARCE
Aug 29, 2019 | 07:58 EDT
BofA/Merrill analyst Pedro Mariani reinstated coverage of Arco Platform with a Buy rating and $58 price target, which implies 17% upside potential. Arco has developed a successful business model by creating a "win-win-win relationship" with schools, Mariani tells investors in a research note. He believes the company has strong brand equity in the Brazilian private K-12 education market. The analyst sees Arco leading the transformation of the K-12 segment, which he thinks should drive further market share expansion.
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