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Fly News Breaks for July 14, 2015
EXPE, OWW
Jul 14, 2015 | 06:06 EDT
UBS analyst Eric Sheridan downgraded Orbitz Worldwide (OWW) to Sell citing increasing antitrust concerns surrounding the proposed takeover by Expedia (EXPE). Travel suppliers are detailing concerns to regulators about consolidation in the online travel market, the analyst tells investors. He believes the risk/reward for shares of Orbitz is now skewed negative and cut his price target for the stock to $10 from $12.
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