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Fly News Breaks for December 10, 2018
TVTY, NTRI
Dec 10, 2018 | 11:16 EDT
Piper Jaffray analyst Sean Wiedland notes that Tivity Health (TVTY) shares are down over 30% in a "harsh" reaction to the news that the company will buy Nutrisystem (NTRI) for $1.3B, or $47 per share. In a research note to investors, Wiedland, who reiterates an Overweight rating and $44 price target on Tivity, says he is "intrigued" by the potential revenue synergies to both businesses, and, despite the selloff, believes that the combination is in the best interest of individuals struggling with health and well-being, and ultimately in the best interests of shareholders.
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