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Fly News Breaks for August 23, 2017
AZPN
Aug 23, 2017 | 07:39 EDT
Berenberg analyst Gal Munda initiated Aspen Technology with a Buy and a $70 price target telling investors its recurring growth provides sustainable growth. Munda's feedback into Aspen's new APM product offering indicates increasing interest and he sees it as a long-term growth driver. Additionally, the analyst said buybacks of around $200M are not included in annual guidance and will likely result in consensus increasing earnings estimates throughout the year.
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