Oppenheimer analyst Ian Zaffino downgraded NCR Corp. (NCR) to Perform citing reservations about the Blackstone (BX) deal. The analyst recommends investors tender their shares into the company's Dutch Auction set to expire on December 11. The deal with Blackstone comes with high interest payments and "little concrete quantification" of the benefits, Zaffino tells investors in a research note.
TD Cowen lowered the firm's price target on Blackstone to $114 from $117 and keeps a Hold rating on the shares. The firm reduced their estimates to reflect slower realizations and lower NII.
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Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here