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Fly News Breaks for February 20, 2018
RAD
Feb 20, 2018 | 10:03 EDT
Evercore ISI analyst Ross Muken estimates the value per Rite Aid share to be 75c- $1.75 depending on the elections made by Rite Aid shareholders under the company's announced agreement with Albertson's. His estimate is based on the pro-forma company's "potentially generous" $3.7 B in EBITDA at an EV/EBITDA multiple of 6.8x, he explains. Muken keeps an Underperform rating on Rite Aid with a $1.50 price target. In early trading, Rite Aid shares are up 3c, or 1.6%, to $2.16.
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