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Fly News Breaks for September 6, 2018
CLDR
Sep 6, 2018 | 07:04 EDT
After Cloudera issued what Stifel analyst Brad Reback called its second consecutive "encouraging" earnings report, he said the company is "heading in the right direction" and he is optimistic its changes will lead to re-acceleration in subscription revenue growth in FY20. He thinks Cloudera's multiple can expand as execution improves over FY19, Reback added. He raised his price target on Cloudera shares to $22 from $19 and keeps a Buy rating on the stock.
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