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Fly News Breaks for May 22, 2015
BAH
May 22, 2015 | 07:25 EDT
After Booz Allen fell 12% following its Q4 results, RBC Capital says the sell-off was spurred by the company's more aggressive stance on M&A, which helped lead to concern that it may no longer be interested in issuing special dividends. The firm says it would not read much into the company's discussion on M&A, but RBC adds that the stock may lose some of its valuation premium until the company renews its cash deployment commitment. RBC cut its price target on the name to $30 from $34 but keeps an Outperform rating.
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