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Fly News Breaks for January 26, 2016
TYC, JCI
Jan 26, 2016 | 07:53 EDT
UBS said they were surprised Johnson Controls (JCI) traded lower following its announced acquisition of Tyco (TYC). The firm believes investors may be concerned about a counteroffer or playing an arbitrage. However, given the synergies and accretions, UBS sees the decline as a buying opportunity. UBS reiterated its Buy rating and $59 price target on Johnson Controls shares.
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