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Fly News Breaks for August 19, 2015
RAD
Aug 19, 2015 | 11:36 EDT
BofA/Merrill said Rite Aid's (RAD) forward results should reflect Envision contributions, few store closures, McKesson contract savings, and ongoing capital structure initiatives. The firm said Rite Aid has opportunities to reduce debt and refinance other obligations that will increase ROIC and lower its cost of capital. BofA/Merrill is encouraged by the company's progress and notes there is little correlation with Wal-Mart's (WMT) sales following yesterday's weakness in shares. The firm rates Rite Aid shares a Buy.
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