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For what it is worth, I would say this is further evidence that IPK, a superior operation to CPC, is getting bought out for a song:

Central Parking soars on Bear Stearns upgrade(12:33 pm ET)
NEW YORK (CBS.MW)-- Shares of Central Parking (CPC: news, chart, profile) soared $1.96, or 11 percent to $19.83 after Bear Stearns analyst Jennifer Childe upped the stock to "peer perform" from "underperform," citing the company's stronger-than-expected fiscal first quarter results and upbeat outlook. Central Parking gained 2.3 percent Thursday after it posted earnings from continuing operations for the first quarter ended Dec. 31 2003 of $9.6 million, or 27 cents a share, vs. $5.2 million, or 14 cent a share a year earlier. The parking lot operator raised its 2004 outlook, saying earnings from continuing operations, excluding property-related gains or losses, will be in the range of 55 to 65 cents per share, compared with the company's prior guidance of 45 to 55 cents a share.

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