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Fly News Breaks for November 12, 2019
ALTR
Nov 12, 2019 | 04:57 EDT
Goldman Sachs analyst Brian Essex initiated coverage of Altair Engineering with a Neutral rating and $34 price target. The company's profitability and cash flow remain below peer levels, which is appropriately reflected in its valuation, Essex tells investors in a research note. He believes a "more prominent inflection" in revenue growth, margin expansion, or cash flow acceleration is needed to drive meaningful upside from current share levels.
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