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Fly News Breaks for September 9, 2019
CHGG
Sep 9, 2019 | 08:22 EDT
Jefferies analyst Brent Thill upgraded Chegg to Buy from Hold while lowering his price target for the shares to $44 from $46. The recent pullback in the shares represents a buying opportunity, Thill tells investors in a research note. The company, by creating a full service learning platform and expanding its addressable market with product updates and acquisitions, is "skating to where the puck is headed," says the analyst. He sees Chegg as a "consistent" 20%-plus growth story with expanding margins and a market leading position. Thill views the company as "one of the best fundamental stories in Smid cap Internet."