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Fly News Breaks for May 3, 2018
ANSS
May 3, 2018 | 05:21 EDT
JPMorgan analyst Sterling Auty says Ansys' revenue growth in Q1 was light of expectations after factoring in the currency tailwind. It is going to be difficult to interpret the quarterly results this year as Ansys is one of the companies seeing the biggest impact from the transition to Accounting Standards Codification 606, Auty tells investors in a post-earnings research note. He believes currency made the Q1 results look good and keeps an Underweight rating on the shares. Auty raised his price target for the name to $103 from $98.
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