Spruce Point Capital Management is pleased to announce it has released the contents of a unique research report on Matthews International Corp. (Nasdaq: MATW). Spruce Point has conducted a forensic financial review of MATW and believes it to be a poorly organized company suffering from operational problems, declining financial performance, accounting and financial control weakness, and is excessively levered with nearly $1 billion of debt and limited covenant cushion. Based on our research opinions, we believe investors and the public would be best served with the immediate resignation of MATW's CEO, CFO and Controller.
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As a result, we have issued a "Strong Sell" opinion and a long-term price target of approximately $18.50 - $24.50 per share, or approximately 55% to 65%...
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