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Fly News Breaks for January 15, 2020
AXE, WCC
Jan 15, 2020 | 08:14 EDT
Buckingham analyst Robert Barry raised his price target for Wesco (WCC) to $57 from $57 to account for the anticipated future benefits of Monday's announced merger with Anixter (AXE,) but retained a Neutral rating. In a research note to investors, Barry says he thinks the anticipated Anixter deal cost synergies are attractive and valuation looks reasonable, but sees an overhang ahead of the deal close from new equity issuance and says there is no rush to buy.
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