Jefferies Raises Price Target on MDC Partners (MDCA) Following Announcement Surrounding SEC Investigation
- Wall Street again marks new highs in post-election run
- Broadcom Ltd. (AVGO) Tops Q4 EPS by 11c
- Restoration Hardware (RH) Tops Q3 EPS by 4c; Guides Well Below the Street
- Unusual 11 Mid-Day Movers 12/8: (COOL) (TLRD) (DRAM) Higher; (SHIP) (OHRP) (MLSS) Lower
- After-Hours Stock Movers 12/08: (FNSR) (AVGO) (GLPG) Higher; (XTLY) (RH) (DLTH) Lower (more...)
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your 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
- Third-Party Said Interested in PrivateBancorp (PVTB) as CIBC (CM) Deal is Delayed
- Corvex Management Cuts Signet Jewelers (SIG) Stake in Half
- MKM Partners Raises Price Target on Ollie's Bargain Outlet (OLLI) Following 3Q
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!