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Fly News Breaks for March 22, 2016
MRKT, IHS
Mar 22, 2016 | 07:56 EDT
After IHS (IHS) agreed to merge with Markit (MRKT), Wells Fargo thinks that the combined company will be "an attractive information services franchise." The firm believes that the deal will yield 40% upside from cost and revenue synergies, while enabling the combined company to generate strong free cash flow and "sustained capital returns." Wells raised its price target on IHS to $130-$142 from $117-$130 and keeps an Outperform rating on the stock.
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