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Fly News Breaks for February 27, 2020
Feb 27, 2020 | 06:46 EDT
Jefferies analyst Stephanie Wissink downgraded Medifast to Hold from Buy with a price target of $90, down from $130. The analyst pulled her thesis and recalibrated her approach to shares as the company's guidance challenged her core assumptions. While the shares look cheap, they are likely to be range-bound until Medifast's momentum returns, Wissink tells investors in a post-earnings research note. The analyst lacks conviction in a meaningful second half of 2020 ramp, which she notes "counters natural seasonality."
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