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Fly News Breaks for January 6, 2020
SDC
Jan 6, 2020 | 08:07 EDT
Craig-Hallum analyst Alexander Nowak initiated coverage of SmileDirectClub with a Buy rating and $20 price target. The company is is "upsetting the existing mold" of orthodontics by lowering physician involvement to provide increased access, better service and a reduced cost to the consumer, Nowak tells investors in a research note. The analyst believes SmileDirectClub is setting itself up for "many years of share gains while insulating itself from potential copy-cats." With 3% share today and a growing market, the company's business is "just getting going" and the current valuation is a good entry point for investors, contends Nowak. He expects its revenue to more than double in the next two years.
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