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Fly News Breaks for July 20, 2016
STMP
Jul 20, 2016 | 08:55 EDT
Craig-Hallum analyst George Sutton said Stamps.com has been under attack for the past several months by short sellers whose latest focus is on negotiated service agreements, or NSA's. Sutton said the shorts, who have no evidence to support their claims, have created tremendous and unneeded fear in the stock and set up a great opportunity for investors to build a position prior to what he expects will be a strong quarter report and outlook and in front of management's explanation which should put fears to bed. Further, conversations with industry participants suggest Stamps' momentum is wholly aligned with the goals of the postal service and the Postal Regulatory Commission. Sutton reiterates his Buy rating and $150 price target on Stamps.com and said shares are "way oversold."
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