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Fly News Breaks for February 26, 2020
Feb 26, 2020 | 07:17 EDT
Goldman Sachs analyst Nathan Rich lowered the firm's price target on SmileDirectClub to $9 from $10 and keeps a Neutral rating on the shares after the company reported steep sequential declines in profitability and cash flow in Q4, gave a lower than expected revenue outlook and guided for another year of negative adjusted EBITDA. The company's five-year revenue growth forecast of 20-30% also fell short of consensus at 35%, said Rich. In pre-market trading, SmileDirectClub shares are down $2.54, or 22%, to $8.79.
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