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Fly News Breaks for February 6, 2018
CPB, LNCE
Feb 6, 2018 | 07:01 EDT
Jefferies analyst Akshay Jagdale downgraded Snyder's-Lance (LNCE) to Hold citing the acquisition by Campbell Soup (CPB). The chance of a higher, alternative bid emerging is "fairly remote" given the transaction's rich valuation, Jagdale tells investors in a research note. The analyst raised his price target for the shares to $50 from $44 and expects the deal to close in Q2.
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