Fly News Breaks for November 13, 2015
ICON, SQBG
Nov 13, 2015 | 07:53 EDT
Canaccord believe shares of Sequential Brands (SQBG) are lower due to negative commentary from Iconix Brands (ICON). The firm feels the share retracement has entirely discounted Sequential's last three deals and noted the company just raised its organic growth rate target to double digits, has strong financial partners, and believes the company's new long-term revenue targets could double upon the closing of its Martha Stewart deal. Canaccord reiterated its Buy rating and $22 price target on Sequential Brands shares.
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