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Fly News Breaks for December 31, 2015
GPN, HPY
Dec 31, 2015 | 05:51 EDT
Piper Jaffray analyst Jason Deleeuw downgraded Heartland Payment Systems (HPY) to Neutral to reflect his view that the takeover by Global Payments (GPN) consummates at the agreed upon terms. Another bidder is unlikely to emerge given the "high takeout valuation," Deleeuw tells investors in a research note. The analyst views the deal favorably and raised his price target for Heartland to $100 from $90.