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Fly News Breaks for January 22, 2019
USAT
Jan 22, 2019 | 10:31 EDT
Due to conducting an internal investigation related to certain contractual arrangements, shares of USA Technologies declined from $15.30 on September 10, 2018, to a close of $5.26 on January 18, 2019, Barrington analyst Gary Prestopino tells investors in a research note. The analyst views USA Technologies as a "unique asset" in the unattended retail market with "leadership through offering a value proposition." Given what has occurred since the commencement of the internal investigation, coupled with a "significant credibility gap" stemming from the investigation and the need to rebuild the senior executive team, USA Technologies shareholder value would be maximized by a sale to either a financial or strategic buyer taking the company out of the public realm, Prestopino contends. He believes the company's takeout value to either a financial or strategic buyer would range from $10 to $15 per share. Prestopino does not currently have a rating on USA Technologies.
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