Guggenheim Starts SmileDirectClub Inc. (SDC) at Buy, New Street High PT
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(Updated - October 7, 2019 7:15 AM EDT)
(updated to add comment)
Guggenheim analyst Glen Santangelo initiates coverage on SmileDirectClub Inc. (NASDAQ: SDC) with a Buy rating and a price target of $24.00.
The analyst comments "As the leader and first mover in the direct-toconsumer clear tray aligner market, SDC has experienced rapid growth – increasing revenue more than 20x between 2016 and 2018 – and we expect that to continue as the company is well positioned to take advantage of the ~$945B global addressable market. While we appreciate the potential regulatory and competitive risks, we believe shares are attractive at the current level given the underperformance (SDC -36% vs. S&P -2%) since the IPO."
Shares of SmileDirectClub Inc. closed at $15.00 yesterday.
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