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Fly News Breaks for August 9, 2016
ENV
Aug 9, 2016 | 10:32 EDT
Jefferies analyst Surinder Thind recommends using today's post-earnings selloff in shares of Envestnet as a buying opportunity. The analyst views the company's "slightly lowered" guidance as a "non-event." The decline in revenue guidance is mostly attributable to advisors pausing to assess the impact of the Department of Labor's fiduciary rule on their business, the analyst tells investors in a research note. Thind expects this trend to dissipate in early 2017 and keeps a Buy rating on Envestnet.
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