SmileDirectClub Inc. (SDC) Hasn't Turned the Corner, BofA Securities Reiterates Underperform
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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".
Shares of SmileDirectClub Inc. closed at $10.30 yesterday.
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