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Fly News Breaks for May 8, 2018
AXAHY, XL
May 8, 2018 | 07:09 EDT
As reported earlier, RBC Capital analyst Mark Dwelle downgraded XL Group (XL) to Sector Perform from Outperform but raised his price target to $57 from $46. The analyst notes that the company's Q1 earnings did not contain any red flags around the sale of the company to AXA (AXAHY), which is on track to close in late Q2 or in Q3. Dwelle adds that his new rating is an indication of low probability of a competitive bidder emerging.
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