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Fly News Breaks for May 22, 2018
ATHN
May 22, 2018 | 07:30 EDT
Deutsche Bank analyst Glen Santangelo raised his price target for athenahealth to $170 citing increased conviction that a leveraged buyout deal is likely. The analyst believes the potential internal rate of return from an LBO transaction could be more attractive, even considering a $170 per share takeout price, due to a higher leverage assumption and slightly more favorable EBITDA growth rate. He updated his model following a review of precedent Elliott Management transactions and keeps a Hold rating on athenahealth.
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