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Fly News Breaks for September 23, 2015
WBMD
Sep 23, 2015 | 07:18 EDT
After WebMD fell 5.5% yesterday to a 2015 low, SunTrust thinks the decline was primarily due to an ABC clip which stated that WebMd sells consumer data. The firm thinks that the assertion is untruthful. SunTrust adds that a proposal by Hillary Clinton to eliminate tax breaks for consumer ads from drug companies played a role in WebMd's decline, but the firm thinks that the proposal will not be considered by Congress for some time. The firm notes that the company yesterday said its "current sales activity is strong." SunTrust keeps a $52 price target and Buy rating on the shares.
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