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Fly News Breaks for February 27, 2020
MED
Feb 27, 2020 | 08:45 EDT
DA Davidson analyst Linda Weiser raised the firm's price target on Medifast to $83 from $74 but keeps a Neutral rating on the shares. The analyst cites the company's Q4 earnings beat and 2020 sales growth guidance in low single digits, though she also notes that the earnings guidance range is 6% below consensus at the midpoint and its assumed SG&A leverage in Q2-Q4 may not be achieved. Weiser adds that while Medifast's dividend is unlikely to be at risk, she sees the company's free cash flow exceeding the payout by only $12M in 2020.
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