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Fly News Breaks for April 1, 2015
SPLS
Apr 1, 2015 | 06:43 EDT
KeyBanc upgraded Staples (SPLS) to Overweight and initiated a $20 price target. The firm expects the Office Depot (ODP) acquisition to be approved by the FTC and sees potential synergies as high as $2B vs. management's $1B estimate, driven by supply chain rationalization, store closures, improved vendor terms, advertising efficiency, and improved private label.
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