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Fly News Breaks for December 22, 2016
MDP, TIME
Dec 22, 2016 | 06:32 EDT
Citi analyst Jason Bazinet believes a company sale is the most likely option for Time Inc. (TIME). He raised his price target for the shares to $20 from $17 and keeps a Buy rating on the name. Meredith (MDP) is the most likely bidder for Time, the analyst tells investors in a research note. He sees upside of $23 per share for Time, which assumes a sale following a turnaround, and potential downside of $14, which assumes no sale and no turnaround.
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