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Fly News Breaks for April 5, 2017
SPLS
Apr 5, 2017 | 05:47 EDT
Citi analyst Kate McShane upgraded Staples to Buy saying her sum-of-the-parts analysis indicates the company should be worth closer to $7.9B versus the current market capitalization of $5.6B. This implies 30% upside for the shares, McShane tells investors in a research note after the Wall Street Journal reported Staples is exploring a possible sale. The analyst believes the exploration makes sense. She upped her price target for Staples to $12 from $9.50.
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