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Fly News Breaks for October 13, 2015
TWOU
Oct 13, 2015 | 10:29 EDT
Barrington analyst Alexander Paris recommends buying shares of 2U "aggressively" following yesterday's selloff. Paris disagrees with the assertion by Citron Research that the company's total addressable market is "tiny." The analyst calls 2U's total addressable market "enormous" and points out that short-selling blog Citron typically publishes its reports around holidays or during a company's earnings quiet period. Paris expects 2U's Q3 results on November to be at least in-line with estimates and reiterates an Outperform rating on the name with a $45 price target. Following yesterday's 18% decline, the stock is up 6% to $25.40 in morning trading. First Analysis analyst Corey Greendale this morning said Citron Research's short report on 2U is based on "inaccurate assumptions and logic."
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