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Fly News Breaks for August 11, 2016
LOV
Aug 11, 2016 | 07:30 EDT
After Spark Networks annoucned that it had received a $7.8M investment from Peak6 Investments and that a senior Peak6 associate would become its CEO, Stifel analyst George Askew says that the deal provides Spark with "talent" and "treasure." He recommends that investors give the new strategy and leadership "time to season." However, the analyst warns that the company currently doesn't have enough money to mount a marketing campaign that will "restore consistent revenue growth." He cut his price target on the shares to $2.80 from $3.45 but keeps a Buy rating.
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