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Fly News Breaks for August 22, 2016
SERV
Aug 22, 2016 | 08:17 EDT
Morgan Stanley analyst Toni Kaplan said the selloff in ServiceMaster shares following the resignation of Terminix president William Derwin is an overreaction. The analyst said the segment has been underperforming and believes the market is not expected a significant near-term acceleration and that a fresh look at Terminix's strategy can result in new ideas and be a catalyst for growth. Kaplan reiterates ServiceMaster's Overweight rating and $45 price target and said valuation is compelling.
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