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Fly News Breaks for May 5, 2015
WX
May 5, 2015 | 07:25 EDT
JPMorgan raised its price target for WuXi PharmaTech to $48 after the company received a go-private offer at $46 per share. JPMorgan thinks the go-private offer should provide a floor to the stock and points out its sum-of-the-parts analysts yields a $50 fair value for shares. It points out the current bid has "little visibility into timelines." The firm keeps an Overweight rating on Wuxi.
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