Shares of Staples (SPLS) jumped following an analyst upgrade and an upbeat note, making it TheStreet’s Move of the Day. Analysts at UBS increased its rating on shares of the office supply retailer to BUY from NETURAL Monday morning. The firm also raised its price target, citing a favorable risk/reward and strong future outlook. In February, the company announced an acquisition deal with smaller rival Office Depot (ODP). Analysts at UBS believe that in the near-term, the stock’s direction will depend on the deal, which it says is ‘more likely than not.’ TheStreet’s Kurumi Fukushima reports in New York.
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