CCX - SPAC Churchill Capital II gets new buy rating at Benchmark on Skillsoft turnaround

Michael Klein's SPAC Churchill Capital II (CCX), which is merging with digital learning company Skillsoft, was initiated with a buy at Benchmark earlier with a $14 price target as the analyst believes Skillsoft is in the "final stages" of a turnaround."With a new capital structure and the appointment of a new, growth-focused CEO, we believe the company has begun to reorganize to take better advantage of its technology assets, vast content library and enterprise customer base that is locked-in," Benchmark analyst Mark Schappel wrote in note.Schappel points out that Skillsoft was an "early pioneer" in digital learning and had a "gold-plated name", through during past several years it had several "simultaneous setbacks" and the company "lost its way."Recall Oct. 13, Churchill Capital II to acquire Skillsoft and Global Knowledge for $1.5B.

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SPAC Churchill Capital II gets new buy rating at Benchmark on Skillsoft turnaround