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Fly News Breaks for October 27, 2015
ELGX
Oct 27, 2015 | 08:10 EDT
As noted earlier, BMO Capital downgraded Endologix to Market Perform from Outperform. The firm downgraded Endologix based on the company's aquisition of TriVascular (TRIV). According to BMO, the deal "does muddy a clean story," adds integration and dis-synergies, and indicates that Endologix is not a takeover candidate. BMO does not expect Endologix to outperform until its visibility increases in the wake of the acquisition. Target to $12 from $16.
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