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Fly News Breaks for November 8, 2019
ALTR
Nov 8, 2019 | 08:01 EDT
JPMorgan analyst Jackson Ader lowered his price target for Altair to $30 from $34 and keeps an Underweight rating on the name. Another guide down is likely to "take another chunk out of shares" with the automotive sector providing most of the overhang, Ader tells investors in a post-earnings research note. The analyst believes his thesis that the company's cash flow and EBITDA margin profile will now allow the company to keep up the pace of investment required to sustain growth targets is playing out.
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