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Fly News Breaks for May 9, 2019
ODP
May 9, 2019 | 07:07 EDT
As previously reported, BofA Merrill Lynch analyst Elizabeth Suzuki double downgraded Office Depot to Underperform from Buy, stating that the company's Q1 report reduced her confidence in a near-term turnaround and she now believes Office Depot's guidance for the rest of the year may be too optimistic. Suzuki, who sees the stock struggling until the company shows consistent improvement in organic growth, cut her price target on Office Depot shares to $2 from $4.
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