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Fly News Breaks for January 21, 2020
RNG, AVYA
Jan 21, 2020 | 05:12 EDT
Goldman Sachs analyst Rod Hall upgraded Avaya Holdings (AVYA) to Buy from Neutral with a price target of $18, up from $16. The economics of the announced RingCentral (RNG) deal are likely to drive Avaya's revenue and profitability above consensus expectations, Hall tells investors in a research note. The analyst estimates that Avaya Cloud Office conversions could add $28M in revenue to Avaya in the first full year of its availability.
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