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Fly News Breaks for February 13, 2019
DOCU
Feb 13, 2019 | 07:35 EDT
Deutsche Bank analyst Karl Keirstead last night upgraded DocuSign to Buy from Hold and raised his price target for the shares to $65 from $50. After speaking with four large e-signature customers, three using DocuSign and one using Adobe Sign, the analyst believes a "more constructive call on DocuSign shares is now warranted." While "hardly cheap," DocuSign's valuation is "not unreasonable given the growth profile," Keirstead tells investors in a research note. Further, he points out that key share lock-up expiration dates are now in the past.
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