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Fly News Breaks for December 12, 2016
ELLI
Dec 12, 2016 | 06:31 EDT
Ellie Mae shares since the U.S. election have been under pressure over concerns about rising interest rates and lower regulations and what it means for the non-contracted part of the business, JPMorgan analyst Sterling Auty tells investors in a research note. The market "has gone too far" and is not factoring in what a better macro outlook would mean for new home purchases that make up 60% of Ellie's business, Auty tells investors in a research note. He keeps an Overweight rating on the stock with a $118 price target.
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