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Fly News Breaks for August 17, 2015
PRI
Aug 17, 2015 | 08:13 EDT
Jefferies analyst Colin Devine upgraded Primerica to Buy from Hold saying the market has over-discounted the threat on the company's business model from the Department of Labor's proposed Fiduciary standard. Less than 10% of Primerica's earnings are at risk from the standard given the company's "very large" term life business that will be unaffected, Devine argues. He keeps a $50 price target for the shares.
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