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Fly News Breaks for August 14, 2015
ODP, SPLS
Aug 14, 2015 | 08:16 EDT
UBS believes the risk/reward for Staples (SPLS) remains compelling and does not see much downside from current valuation. The firm said the way Staples shares have been trading suggests the market is giving a low probability to closing its merger with Office Depot (ODP) which means the company will focus on its stand-alone earnings power. UBS reiterated its Buy rating and $20 price target on Staples shares.
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