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Fly News Breaks for July 21, 2015
DSGX
Jul 21, 2015 | 07:18 EDT
After Descartes agreed to buy MK Data, RBC Capital says that the deal is positive for the company from a strategic standpoint and offers higher than average revenue synergies and long-term EPS accretion. The firm does add, however, that the price Descartes paid was above its historical takeout multiple. Nevertheless, the firm says that the acquisition is consistent with management’s disciplined approach, and raised its price target on the name to $19 from $18 while keeping an Outperform rating.
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