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Fly News Breaks for January 5, 2018
TOSYY, TOSBF, BBU
Jan 5, 2018 | 07:53 EDT
Credit Suisse analyst Nick Stogdill noted that Brookfield Business Partners (BBU) and its institutional partners will acquire 100% of Westinghouse Electric from Toshiba (TOSBF) for $4.6B, which he views as positive news from both a strategic and financial perspective. The analyst, who increased his 2018 EPS estimate 11% to $3.15 to reflect the deal, keeps an Outperform rating on Brookfield Business Partners and raised his price target on the stock to $42.
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