UPDATE: Loop Capital Downgrades SmileDirectClub Inc. (SDC) to Hold
- Wall Street ends sharply lower in broad sell-off
- China Property Titan Evergrande (EGRNF) Collapses to 11-Year Lows, Analysts Wary of Domino Effect
- Apple (AAPL) iPhone 13 Has Strong Start with Positive Mix Skew - JP Morgan
- Lennar (LEN) Falls as Reported Q3 Revenue Beats, EPS Slightly Missed Estimates
- Oil falls 2% on risk aversion, dollar strength
Loop Capital analyst Laura Champine downgraded SmileDirectClub Inc. (NASDAQ: SDC) from Buy to Hold with a price target of $9.00 (from $14.00).
The analyst comments "Downgrading to Hold on Increased Execution Concerns...We are lowering our rating from Buy to Hold on Smile Direct Club and lowering our price target from $14 to $9. We are adjusting our estimates lower to account for what we see as an inflationary environment for everything from shipping to digital marketing. Our sales estimate is basically in line with consensus in the current quarter and Q3, but we are below consensus starting in Q4 as we expect SDC to focus more on profitability than top line growth. Our bottom-line cuts are more extensive, as we see pressure on gross margin, marketing, and G&A expense relative to our prior estimates."
Shares of SmileDirectClub Inc. closed at $9.00 yesterday.
You May Also Be Interested In
- UPDATE: Stifel Downgrades SmileDirectClub Inc. (SDC) to Hold
- Scor SE (SCR:FP) (SCRYY) PT Raised to EUR31.90 at JPMorgan
- AP Moller Maersk (MAERSKB:DC) (AMKBY) PT Raised to DKK21,250 at JPMorgan
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Downgrades, Hot Comments, Hot Downgrades
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!