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  "documentTitle": "WD-40 Company (WDFC)",
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  "authorName": "Ben Axler",
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  "presentationDate": "2020-04-02 00:00:00",
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  "notes": "Uses red arrows and callout boxes to annotate and debunk specific claims from Jefferies and DA Davidson research notes.",
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      "kind": "callout",
      "text": "With current volatility the market can move 5% in a day. An 8% pullback is laughable, when the analyst hasn't quantified the potential downside risk or why one should buy when WDFC just tapped a 15x increase in its revolver vs. the last crisis.",
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      "kind": "callout",
      "text": "Really? Has the analysts investigated bloated inventory channels?",
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      "kind": "callout",
      "text": "Is this a joke? WDFC’s multiple is already astronomical",
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      "text": "Decreasing moat and model that won't prove resilient this time around",
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      "text": "WD-40 upgraded to Buy from Neutral at DA Davidson",
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      "text": "WD-40 has just two analysts that form the “consensus” bullish view, a view we argue is based on incomplete analysis and overly-optimistic assumptions.",
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      "text": "WD-40 upgraded to Buy from Neutral at DA Davidson. DA Davidson analyst Linda Weiser upgraded WD-40 to Buy from Neutral with a price target of $225, up from $194. The analyst is citing the company's more attractive valuation following an 8% decline in the stock price from March highs. Weiser adds that if oil prices stay depressed for 60 days, WD-40 could see gross margin upside surprises in the second half of the year along with the expansion of its multiple. — TheFly",
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