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Fly News Breaks for January 31, 2017
ELLI
Jan 31, 2017 | 08:06 EDT
Pacific Crest analyst Brent Bracelin expects Ellie Mae to report higher than expected Q4 revenue, but he thinks that it will issue "tepid" Q1 guidance, based on declines in mortgage pipelines identified by major banks. The analyst says that patient investors should buy the stock on significant downturns, as he thinks the company will have multiple positive catalysts next year. Bracelin keeps a $107 price target and an Outperform rating on the stock.
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