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UPDATE: BTIG Starts Lender Processing Services (LPS) at Buy, Co's Model Not Understood

March 26, 2013 8:07 AM EDT Send to a Friend
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Price: $37.30 --0%

Rating Summary:
    0 Buy, 8 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 13 | Down: 24 | New: 21
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(Updated - March 26, 2013 10:38 AM EDT)

BTIG initiates coverage on Lender Processing Services (NYSE: LPS) with a Buy rating and a price target of $31.00. Analyst Mark Palmer said the company's complex business model was not widely understood, resulting in discount valuation.

"We think LPS's unique position as a provider of technological solutions within the mortgage value chain at a time when demand for such solutions is growing rapidly, its robust free cash flow, barriers to entry that provide it with an "economic moat," and its attractiveness as a buyout target merit a fuller valuation and a closer look by investors," said analyst Mark Palmer.

For an analyst ratings summary and ratings history on Lender Processing Services click here. For more ratings news on Lender Processing Services click here.

Shares of Lender Processing Services closed at $24.54 yesterday.




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