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Fly News Breaks for January 8, 2020
TRUP
Jan 8, 2020 | 21:13 EDT
Stifel analyst Jonathan Block downgraded Trupanion to Hold from Buy with a price target of $38, up from $32. The analyst continues to believe in the long-term story surrounding medical insurance for companion animals. However, the stock has run in a short period of time, and the competitive landscape may possibly intensify, which could exert more demands on out-year pet acquisition cost, Block tells investors in a research note. He cites "mostly valuation" and some concern over 2020 EBITDA estimates for the downgrade to Hold.
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