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Fly News Breaks for August 10, 2015
HRB
Aug 10, 2015 | 08:30 EDT
Credit Suisse analyzed several LBO scenarios for H&R Block following its bank sale announcement and said a greater than 20% internal rate of return is a stretch and likely limits private equity interest. The firm said a buyer would unlikely be able to rationalize additional cost cuts given managements significant reductions and does not see a logical buyer to exit the position, implying an IPO would be necessary. Credit Suisse rates H&R Block an Outperform with a $40 price target.
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