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Fly News Breaks for July 30, 2015
LOCK
Jul 30, 2015 | 07:51 EDT
As previously reported, BofA/Merrill downgraded LifeLock to Neutral from Buy. The said the FTC lawsuit is an overhang on the stock and the effect on the core business. The firm expects the second half of the year to be challenging and said retention rate trends have weakened slightly, churn has increased, and lower GNMs will pressure retention rates. BofA/Merrill sees upside as capped near-term and lowered its price target on shares to $10 from $12.
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