UPDATE: Wolfe Research Starts SmileDirectClub Inc. (SDC) at Underperform on Slowing Growth, Other Issues
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(Updated - January 9, 2020 2:49 PM EST)
Wolfe Research Steve Beuchaw initiates coverage on SmileDirectClub Inc. (NASDAQ: SDC) with a Underperform rating and a price target of $7.00.
The analyst comments "We are negative on SDC where we expect slowing growth and cash consumption to weigh on shares. Our SDC $7 price target reflects a discount for the credit and regulatory risks around the company and sales estimates 30% below consensus."
Shares of SmileDirectClub Inc. closed at $10.85 yesterday.
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