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Fly News Breaks for February 21, 2017
SITO
Feb 21, 2017 | 10:42 EDT
Craig-Hallum analyst Mike Malouf said he was "somewhat surprised" by the announcement of the resignation of SITO Mobile CEO Jerry Hug, but also believes Hug had little support among board members for his vision for where to move the company strategically. He suspects most investors will take a wait and see attitude toward the stock following the news and lowered his price target on the stock to $4 from $7.50, though he keeps a Buy rating on the shares, citing SITO's long-term growth prospects.
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