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Fly News Breaks for April 1, 2015
LOCM
Apr 1, 2015 | 09:53 EDT
Ladenburg estimates that the significant number of new warrants issued by Local as part of a recent fundraising effort brings its fully diluted share count to about 40M, nearly doubling the prior share count. The firm cut its price target on the stock to $2 from $4 to account for the new share count, but maintains a Buy rating, as it believes that renewed growth will come for Local in the second half of the year.
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