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Fly News Breaks for January 31, 2019
EGOV
Jan 31, 2019 | 11:26 EDT
Barrington analyst Gary Prestopino upgraded NIC Inc. to Outperform from Market Perform with a two-year price target of $26. The stock in morning trading is up 15%, or $2.16, to $16.32. 2019 will be a strong year for NIC's core portal business with expectations to produce the company's strongest same state organic revenue growth in the past five years, Prestopino tells investors in a research note. He cites the company's better than expected Q4 results, new contracts and services that will become "key drivers of growth" over the next three to five years, and "undervaluation in the market" for his upgrade of the shares.
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