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Fly News Breaks for June 9, 2015
SHLD
Jun 9, 2015 | 10:10 EDT
Evercore ISI said Sears reported an "abysmal" topline for the quarter and cash generation remains deeply in negative territory. The firm believes the only way to justify the current share price is through asset sales. Evercore said a vast majority of Sears' value is in real estate and its theoretical sum-of--parts valuation is only $16. The firm views risk/reward as quite negative and maintains its Sell rating
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