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Fly News Breaks for September 16, 2019
MED
Sep 16, 2019 | 09:21 EDT
DA Davidson analyst Linda Bolton Weiser kept her Buy rating and $250 price target on Medifast after its 8-K disclosure filed last week indicating changes to the company's severance plan for its CEO and other executives that were made with intention to retain them in the event of a potential "change of control". The analyst states that the modified provisions suggest that the Board may be preparing for a potential acquisition proposal, as it raises the severance payment for the company CEO from 1-times salary/bonus if terminated within the first 6 months of change of control to 2.5-times over the two years subsequent to change of control.
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