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Fly News Breaks for April 30, 2015
ODP, SPLS
Apr 30, 2015 | 07:40 EDT
Jefferies upgraded both Staples (SPLS) and Office Depot (ODP) to Buy from Hold saying it believes the chances of FTC clearance for the merger is higher than the 60% currently reflected in the stocks. Jefferies believes FTC approval of the deal is likely given the "large number" of competitors both online and in the physical world. The firm has a $20 price target for Staples and $11.60 price target for Office Depot.
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