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Fly News Breaks for October 24, 2016
TWX, T
Oct 24, 2016 | 07:58 EDT
As reported previously, Cowen analyst Colby Synesael downgraded AT&T (T) to Market Perform from Outperform as he disagrees with the logic behind its acquisition of Time Warner (TWX). He cites increased financial risk, his negative view on the likelihood that the deal enhances strategic value, and the risk of the deal being approved. Synesael lowered his price target to $39 from $45 on AT&T shares.
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