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Fly News Breaks for January 12, 2016
TYC
Jan 12, 2016 | 07:24 EDT
CLSA analyst Jeremie Capron upgraded Tyco to Buy due to its defensive nature and discounted valuation. Capron specifically likes the defensive nature of Tyco's fire & security business with orders and backlog turning up in recent quarters on the back of an improving US construction trends. Additionally, the analyst said Tyco continues to aggressively reduce costs through its massive restructuring actions and recent portfolio changes have generated $4B in available cash that can be deployed.
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