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Fly News Breaks for April 22, 2015
AXS, PRE
Apr 22, 2015 | 05:49 EDT
UBS downgraded PartnerRe (PRE) to Neutral citing a lack of upside to EXOR's cash offer of $130 per share. UBS sees the possibility of AXIS Capital (AXS) raising its bid for PartnerRe, but does not see the company coming in with a bid much above $130. It raised its price target for PartnerRe shares to $130 from $124.
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