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Office Depot (ODP) and OfficeMax (OMX) Ripe for M&A

January 28, 2013 5:25 PM EST Send to a Friend
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Price: $5.83 +1.22%

Rating Summary:
    6 Buy, 6 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 15 | Down: 16 | New: 67
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Analyst at Goldman Sachs today put out an interesting research note on the retail office products space. In the note, analysts raised their assessment of M&A probability, which while not an indication of a specific event indicates conditions are ripe.

Office Depot, Inc. (NYSE: ODP) and OfficeMax Incorporated (NYSE: OMX) both score rankings of 1, the highest ranking possible. To reflect this, Goldman raises its price target on both stocks.

Office Depot's price target was increased to $4 from $3, and OfficeMax's price target was increased to $11 from $9.50.

Both stock are Neutral-rated.

For an analyst ratings summary and ratings history on Office Depot (NYSE: ODP) click here. For more ratings news on Office Depot click here.

Shares of Office Depot closed at $4.37 yesterday.

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