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Fly News Breaks for February 6, 2019
ULTI
Feb 6, 2019 | 08:08 EDT
SunTrust analyst Terry Tillman raised his price target on Ultimate Software to $331.50 after the company announced its intent to go private at that price. The analyst notes that given the stock last close above the target, the market is signalling a potential competitive bid during its 50-day Go Shop period. Tillman still sees his baseline scenario for Ultimate Software being a take-private transaction, giving its shareholders a "healthy return" and allowing the company to boost its investment activity.
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