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Fly News Breaks for October 18, 2016
ELLI
Oct 18, 2016 | 07:14 EDT
Oppenheimer analyst Brian Schwart raised his price target for Ellie Mae to $120 from $110 on a better fundamentals story ahead, and recommends using market-related stock pullbacks to add to positions. The analyst sees Ellie Mae positioned to post "solid" September quarter results, and expects the "strong momentum" the business is currently experiencing to continue well into 2017. Schwart reiterates Ellie Mae as a top pick and keeps an Outperform rating on the stock.
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