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Fly News Breaks for May 15, 2018
ALTR
May 15, 2018 | 07:13 EDT
Canaccord analyst Richard Davis said Altair's Q1 results were pretty solid across the board. He said it is good to see the company growing into its valuation, which had been stretched by overzealous investors. The analyst said the current valuation is driven by the company's growth runway and investor confidence in that growth. Looking out to 2019 and 2020, the company's dynamics and valuation get more compelling, added Davis, who maintained his Hold rating and raised his price target to $32 from $30 on Altair shares.