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Harris HRS (news,
chart,
quote) - HRS volatility decreases after WSJ report of preliminary bids
HRS is recently up $3.55 to $65.51. The WSJ reported HRS began fielding expressions of interest from potential buyers this week, with preliminary bids in the low $70-per-share range according to people familiar with the matter. Buckingham Research say's "increasing our $70 share price target to $75 based on potential valuation in what appears well-founded speculation that company will be sold." HRS June option implied volatility of 37 below a level of 42 from May 29 and near its 26-week average of 36 according to Track Data, suggesting non-directional price risk.
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