Fly News Breaks for February 26, 2020
Feb 26, 2020 | 07:58 EDT
Jefferies analyst Brandon Couillard downgraded SmileDirectClub to Hold from Buy with a price target of $10, down from $22, following a weak Q4 and FY20 guidance that also came with a "material reset" to its mid-term growth outlook. Following last night's quarterly report, Couillard is less confident about SmileDirect's ability to balance growth and profitability and also concerned that the core U.S. market is maturing faster than expected, the analyst tells investors in a post-earnings research note.
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