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Fly News Breaks for March 22, 2018
ALTR
Mar 22, 2018 | 07:05 EDT
Canaccord analyst Richard Davis raised his price target on Altair Engineering to $30 from $25, saying Altair executed well in Q4 and its revenue guidance was "a bit higher" than his forecast. In a research note to investors, Davis said Altair took a "solid" step forward in a hyper market for software stocks, but cautioned that Altair does not operate in an industry "where you see rapid market share shifts for the simple reason that it is difficult for engineers to get comfortable with new simulation models and discard past computational analytics." The analyst keeps a Hold rating on the shares.
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