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Fly News Breaks for February 26, 2020
Feb 26, 2020 | 07:34 EDT
Stifel analyst Jonathan Block lowered the firm's price target on SmileDirectClub to $12 from $17 after the company's Q4 report showed that growth has slowed and management pushed out their previous profitability targets. A future financing action "does not seem entirely off the table," said Block, although he doesn't believe "stepping to the sidelines at ~$9 is the right near-term move." He keeps a Buy rating on the stock, as he believes SmileDirectClub is in a good position to capitalize on the large opportunity in the Adult clear aligner aesthetics market at a lower consumer price point, though Block admits that he has "less conviction" in management's Teen and Wholesale initiatives.
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