Fly News Breaks for April 6, 2015
Apr 6, 2015 | 06:05 EDT
Piper Jaffray believes Web.com is making progress towards returning to growth and that the stock's risk/reward is favorable at current levels. Piper estimates Web.com's existing subscriber base alone is worth $17 per share. It thinks the shares could be worth in excess of its $25 price target should the company return to growth. Piper reiterates an Overweight rating on Web.com.
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