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Fly News Breaks for August 20, 2019
ODP
Aug 20, 2019 | 08:23 EDT
BofA/Merrill analyst Curtis Nagle lowered his price target for Underperform-rated Office Depot to $1.20 from $2.00. In a research note to investors, Nagle says he remains "particularly wary" of Office Depot's ability to deliver medium-term stabilization in its core North American Retail business. Although thestock has staged a small rally along with other retail stocks following the recent market sell-off, Nagle says he expects investor sentiment to remain relatively bearish over the medium-term.
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