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Fly News Breaks for June 11, 2019
Jun 11, 2019 | 09:13 EDT
Raymond James analyst Aaron Kessler downgraded Shutterfly (SFLY) to Market Perform from Outperform after the company reached an agreement to be acquired by Apollo Global (APO), saying that while the deal was largely anticipated, he is "somewhat disappointed" in the lower-than-expected acquisition price. He feels the price likely reflects uncertainty around Shutterfly's core organic growth and level of synergies with Lifetouch.
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