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Fly News Breaks for April 22, 2015
RAD
Apr 22, 2015 | 08:00 EDT
Cowen said to add to Rite aid positions on the recent pullback as the reason for the weakness is the receding of a takeout premium, which was not in the firm's investment thesis to begin with. The firm sees strong underlying fundamentals and strong returns from its store remodeling program, which is still in its early innings. Cowen reiterated its Outperform rating and $12 price target on Rite Aid shares.
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