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Fly News Breaks for June 20, 2017
GGP
Jun 20, 2017 | 06:49 EDT
Goldman Sachs analyst Caitlin Burrows downgraded GGP to Sell with a $22 price target saying the market is overvaluing an M&A premium multiple as a result of management's discussion of strategic alternatives on its Q1 call. The analyst believes the premium will narrow given the weaker than previously anticipated operating environment and lack of recent retail real estate transactions in the space.
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