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Fly News Breaks for June 5, 2019
CHGG
Jun 5, 2019 | 16:14 EDT
Needham analyst Ryan MacDonald initiated Chegg with a Buy rating and $44 price target, stating that the company remains "heavily underpenetrated" in terms of subscribers and revenue in its direct to student addressable market. He believes a premium valuation is warranted, MacDonald added.
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