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Fly News Breaks for January 18, 2019
Jan 18, 2019 | 05:29 EDT
Imperial Capital analyst Jeff Kessler withdrew his Outperform rating and $10 price target for Ascent Capital citing the "negligible" equity value and the company's ongoing efforts to restructure its balance. The outcome of the restructuring remains "very uncertain," and could result in a distressed scenario in which the company's common equity is "severely diluted or cancelled in its entirety," Kessler tells investors in a research note.
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