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Fly News Breaks for November 8, 2016
CHGG
Nov 8, 2016 | 06:08 EDT
Piper Jaffray analyst Michael Olson raised his price target for Chegg to $8.50 citing the company's "strong" Q3 results. The company's transition away from physical textbook rentals to an entirely digital revenue base is progressing and could bring a "much more attractive target operating model in '17 and beyond," Olson tells investors in a post-earnings research note. He keeps an Overweight rating on Chegg.
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