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Fly News Breaks for September 8, 2015
SPLS, ODP
Sep 8, 2015 | 05:37 EDT
B. Riley analyst Scott Tilghman upgraded Office Depot (ODP) to Buy citing "significant valuation improvement potential" from the takeover by Staples (SPLS) and/or stabilizing fundamentals. An acquisition price of over $10 per share looks likely to be realized, Tilghman tells investors in a research note. He has an $11 price target for Office Depot shares. The stock closed Friday down 6c to $7.26.
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