BMO Capital analyst Ari Klein raised the firm’s price target on TravelCenters (TA) to $86 from $60 and keeps a Market Perform rating on the shares after the company agreed to be acquired by BP (BP) for $86 per share. The deal should bring enhanced scale and synergies, and there is likely to be limited regulatory risk given the highly fragmented travel center market, the analyst tells investors in a research note.
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