Fly News Breaks for September 18, 2018
SAP, BL
Sep 18, 2018 | 07:00 EDT
KeyBanc analyst Brent Bracelin reiterated an Overweight rating on BlackLine (BL) and raised his price target to $65 from $52. In a research note to investors, Bracelin says the firm's proprietary analysis of Key First Look Data: Jobs gives him an upward bias to 2H18 growth estimates of 25% for BlackLine as an increasing number of enterprises are looking to modernize back-office accounting functions. The analyst says he is also "encouraged" by partner momentum at SAP (SAP), KMPG, EY and Deloitte that he believes are helping further elevate BlackLine's role in transforming legacy financial operations.
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