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Fly News Breaks for May 11, 2015
RCAP
May 11, 2015 | 06:29 EDT
Citigroup attributes the year-to-date pullback in shares of RCS Capital to concerns over the Department of Labor Fiduciary Reform impact and perceived risk of violating debt covenants. After reviewing RCS Capital's cash flows, Citi does not expect the company to violate its debt covenants. The firm believes the stock can more than double from current levels and keeps a Buy rating on the name with an $18 price target.
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