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Fly News Breaks for December 4, 2018
APTI
Dec 4, 2018 | 06:43 EDT
JPMorgan analyst Mark Murphy downgraded Apptio to Underweight from Neutral with an unchanged price target of $38. The shares are trading at a "fair/full" valuation and have "moved out of phase with the rest of the software sector," Murphy tells investors in a research note. The analyst believes recent earnings reports from software names could drive a "mean-reversion trade" that lifts the software sector while driving underperformance of Apptio.
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