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Stock Market & Financial Investment News

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May 16, 2014
07:16 EDTBYIBally Tech CEO change likely to boost stock price longer term, says Stifel
After Bally announced that it decided to replace CEO Ramesh Srinivasan with former CEO Richard Haddrill, Stifel sees the news as a near-term headwind for the stock but anticipates that the change will be positive for the shares over the longer term. The firm thinks that Srinivasan was replaced due to lack of satisfaction with his strategy and management style. It keeps an $87 price target and Buy rating on the shares.
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