- Stifel has launched coverage of Silver Spring (SSNI +4.5%) with a Buy and $16 PT.
- The launch comes 3 weeks after shares crumbled due to the weak Q2/2014 guidance (blamed on deal delays) provided with a Q1 beat.
- They're still down 40% YTD, and go for just 1.2x 2015E sales exc. cash.