Jefferies Raises Price Target on MDC Partners (MDCA) Following Announcement Surrounding SEC Investigation
- Donald Trump Sworn in as 45th U.S. President
- Wall Street ends higher as Trump becomes president
- Walgreens Boots Alliance (WBA) Said to Face Antitrust Concern for Rite Aid (RAD) Fix - Bloomberg
- Bristol-Myers Squibb (BMY) Says It Won't Pursue Accelerated U.S. Regulatory Pathway for Opdivo Plus Yervoy in Lung Cancer
- Apple (AAPL) Sues Qualcomm (QCOM) Over Patent Royalties in Antitrust Case - Bloomberg
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.
Jefferies reiterated a Hold rating on MDC Partners (NASDAQ: MDCA), and raised the price target to $4.00 (from $3.50), after management announced that it had reached an "agreement in principle" to resolve the ongoing SEC investigation.
Analyst John Janedis commented, "MDCA mgmt spoke at a conf. today and announced that it had reached an "agreement in principle" to resolve the ongoing SEC investigation. The company admitted to no liability and is not restating any financial statements, but will pay a $1.5M civil penalty to the SEC. Today's announcement removes a significant overhang on the stock, at a reasonable cost - next stop, tone of business."
Shares of MDC Partners closed at $3.95 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Herbalife (HLF) Provides Q4, FY17 Guidance in Memorandum for $1.325B Credit Facility; Lowers FY17 Sales Guidance
- Web.com, Inc. (WEB) PT Raised to $25 at BWS Financial Ahead of 4Q Report
- JPMorgan Downgrades Endo International plc (ENDP) to Neutral
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Related EntitiesJefferies & Co
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!