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Fly News Breaks for March 1, 2017
XOXO
Mar 1, 2017 | 06:22 EDT
Stifel downgraded XO Group to Hold and lowered its price target to $17 from $23 following disappointing guidance due to the reset of Local online advertising business, weaker national sales, and a sharp decline in Publishing. The company made the decision to abandon the pay-for-performance business model and repurpose it as features and tools of the Local subscription advertising business, which will reduce the total addressable market and limits future growth and margins, the analyst wrote.
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