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Fly News Breaks for November 4, 2016
SQBG
Nov 4, 2016 | 06:55 EDT
Brean Capital analyst Eric Tracy lowered his price target on Sequential Brands to $10 from $15 following decent Q3 results. The analyst noted shares traded down 33% on its lowered guidance reflecting higher than expected headquarter leasing expense and investments to accelerate growth. Tracy believes at current prices the risk/reward has improved with the constructive stance based on management addressing the aforementioned overhangs. Tracy maintained his Buy rating on Sequential Brands shares.
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