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Fly News Breaks for February 7, 2020
Feb 7, 2020 | 08:00 EDT
DA Davidson analyst Tom Forte downgraded GrubHub to Underperform from Neutral with a price target of $33, down from $37, following the company's Q4 earnings miss. The analyst is also concerned with GrubHub's margin prospects as an increasing number of its sales are coming from lower-margin sources, lowering his long-term adjusted EBITDA margin outlook to 18% from 22%.
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