Lake Street was surprised by the OptimizeRx news (OPRX) CEO Will Febbo will resign on December 31. While the firm believes President Steve Silvestro is a “capable fill-in,” it notes that the timing seems odd. Typically, planned transitions are revealed around the normal earnings cycle, not two days before Christmas. Lake Street doesn’t think Feebo’s departure is due to concerns about next year’s expectations. With that said, the firm says it’s also not blind to the stock’s underperformance over the past three years. For the stock to outperform, whoever takes over will need to get the company back on track, delivering consistent double-digit organic growth, it said. Lake Street reiterates a Buy rating on the stock with a price target from $11.
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2024-12-25 13:40:10
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