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Fly News Breaks for June 25, 2018
UIS
Jun 25, 2018 | 06:17 EDT
Loop Capital analyst Joseph Vafi raised his price target on Unisys to $13, saying the company's large underfunded pension deficit could start to ream a benefit as interest rates rise and investment grade bonds begin to follow. Vafi estimates that every 25bp increase in discount rates produces up to $130M to the company's U.S. and international pension liability, while also noting an improvement in bookings over the past two quarters. The analyst keeps his Hold rating on Unisys "until a clearer picture emerges on cash generation versus cash requirements for upcoming pension obligations".
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