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Fly News Breaks for August 7, 2019
GSKY
Aug 7, 2019 | 06:46 EDT
Citi analyst Ashwin Shirvaikar downgraded GreenSky to Neutral from Buy and cut his price target for the shares to $7.50 from $16.50. The company's announcement that it will pursue strategic alternatives was complicated by the suspension of its forward outlook, the missed quarter, and the comments that it was unlikely to add bank funding partners, Shirvaikar tells investors in a research note. The analyst says Neutral rating balances the lack of visibility with potential support from GreenSky's announced pursuit of strategic alternatives.
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