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Fly News Breaks for June 16, 2017
BAH
Jun 16, 2017 | 07:24 EDT
After Booz Allen announced that the Department of Justice was conducting a civil and criminal probe of its accounting and charging practices involving the government, Wells Fargo says that past legal/political issues involving the company have given investors good opportunities to buy the stock at attractive prices. The firm notes that the company has not been indicted. Wells remains upbeat on the company's strong brand, market positioning,and ability to benefit from "unusually strong government fiscal year-end award activity." Wells trimmed its price target on the shares to $40 from $43 but keeps an Outperform rating.
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