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Fly News Breaks for November 5, 2018
HDP, CLDR
Nov 5, 2018 | 07:54 EDT
As reported earlier, Needham analyst Jack Andrews upgraded Cloudera (CLDR) to Strong Buy from Buy and raised his price target to $31 from $23. The analyst cites his deeper review of its combination with Hortonworks (HDP), saying it will bring "accelerating operating leverage" and "strategic value" given their respective areas of strength in separate use cases of Internet of Things and AI/Machine Learning. Andrews also notes that some customers prefer to have a single vendor, adding that his review of the synergies suggests a "large valuation gap" for the company relative to its peers.
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