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Fly News Breaks for June 21, 2018
CHGG
Jun 21, 2018 | 06:28 EDT
Jefferies analyst Brent Thill downgraded Chegg to Neutral from Buy while raising his price target for the shares to $30 from $27. The stock has returned an "exceptional" 500% over the past two years and is up 80% year-to-date, Thill tells investors in a research note. While the analyst remains "big fundamental fans of the business," he believes the valuation "feels full" at nine times 2019 sales.
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