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Fly News Breaks for March 29, 2019
WBC
Mar 29, 2019 | 07:15 EDT
RBC Capital analyst Seth Weber downgraded Wabco to Hold and nudged his price target on the stock to $136.50 from $136 to reflect its acquisition by ZF Friedrichshafen at the target price announced this week. The analyst notes that although the deal price was 6.5% below the March 27th market close, the management's subsequent call suggests that the company has not been approached by any other potential suitors, and therefore the chance of an "over-the-top bid is not imminent."
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