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Fly News Breaks for July 15, 2019
AZPN
Jul 15, 2019 | 07:29 EDT
Wedbush analyst Steve Koenig raised his price target for Aspen Technology to $146 from $131 ahead of Q4 results as he expects a "solid quarter" highlighted by acceleration in annual spend and some upside on revenue, EPS, and free cash flow. For 2020, the analyst expects Aspen can accelerate annual spend by another point or two on continued declines in attrition, modest acceleration in asset performance management, and improving engineering and construction spending in North America. Koenig reiterates an Outperform rating on the shares.
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