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Fly News Breaks for February 19, 2020
Feb 19, 2020 | 13:17 EDT
Canaccord analyst Maria Ripps lowered the firm's price target on Blue Apron to $5 from $7 and keeps a Hold rating on the shares. The company's Q4 results showed continued active customer and revenue declines, although several metrics, including average revenue per customer and orders per customer, showed some strength, Ripps tells investors in a post-earnings research note. Further, Blue Apron's board is evaluating a range of strategic alternatives that could include a business combination, a sale of the company, or a capital raise, adds the analyst. Ripps reduced her estimates to reflect the company's ongoing business headwinds.
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