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Fly News Breaks for November 14, 2019
CDLX
Nov 14, 2019 | 08:10 EDT
JPMorgan analyst Doug Anmuth downgraded Cardlytics to Neutral from Overweight with an unchanged price target of $58. The analyst cites valuation for the downgrade following the stock's 43% day-after-earnings appreciation on Wednesday. Cardlytics shares are up 426% year-to-date, Anmuth tells investors in a research note. Despite the downgrade, his fundamental view on the company remains positive. He still believes Cardlytics is "uniquely positioned" to leverage purchase data from more than 2,000 financial institutions.
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