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Fly News Breaks for May 19, 2017
ATHN
May 19, 2017 | 07:32 EDT
RBC Capital increased its price target on athenahealth after activist Elliott Associates became involved in the company. The analyst thinks that Elliott's involvement lowers downside risk, and he says that athenahealth could be acquired for $135-$150 per share. However, he thinks that the company's staggered board and its CEO could create "challenges to activism." But he thinks the activist stake should raise the stock's floor, and he keeps a Buy rating on the name.
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