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Fly News Breaks for October 12, 2018
BGCP, NMRK
Oct 12, 2018 | 08:47 EDT
Sandler O'Neill analyst Alexander Goldfarb upgraded Newmark Group (NMRK) to Buy from Hold with a $12 price target. While Newmark's float will increase with 45% of the shares distributed to BGC Partners (BGCP) shareholders, the stock at current levels is "too cheap to ignore," Goldfarb tells investors in a research note. He sees the corresponding financial separation from BGC, which he expects to be completed by year-end, as a catalyst.
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