SmileDirectClub Inc. (SDC) Hasn't Turned the Corner, BofA Securities Reiterates Underperform

March 5, 2021 7:35 AM EST
Get Alerts SDC Hot Sheet
Price: $10.55 +3.84%

Rating Summary:
    10 Buy, 2 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 10 | New: 12
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BofA Securities analyst Michael Ryskin reiterated an Underperform rating and $8.00 price target on SmileDirectClub Inc. (NASDAQ: SDC) after Aligner cases shipped of 101.8k slightly beat the100k guide leading to Revenue of $184.6mn that beat the Street est of 181mn. About 13% of sales in FY20 were from International sources (about 15% in 4Q), which was a new disclosure, and meaningfully ahead of 2019 levels.

The analyst reiterated the Underperform rating, stating "While SDC continues to make steady progress against its LT-targets, we continue to see a long road ahead with only modest upside to estimates in the near-term (exemplified by relatively gradual sequential improvement in 1Q21, and only 20-30% growth for the year despite a -12% comp). Our model remains largely unchanged".

For an analyst ratings summary and ratings history on SmileDirectClub Inc. click here. For more ratings news on SmileDirectClub Inc. click here.

Shares of SmileDirectClub Inc. closed at $10.30 yesterday.

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