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We believe consensus on ZAGG Inc. is far too negative for a traditionally high margin, high FCF business whose stock has been beaten down since March on COVID concerns.
With recent exits from negative EBITDA business lines, ZAGG is well positioned for strong cash flow to pay down its Revolving Credit Line even in downside scenarios.
Further, ZAGG remains a strong takeover candidate. As recently as August 2019 ZAGG reportedly fielded multiple buyout offers in the range of $9 a share, almost triple the current price.