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Fly News Breaks for April 3, 2017
ELLI
Apr 3, 2017 | 08:53 EDT
William Blair analyst Brandon Dobell upgraded Ellie Mae to Outperform from Market Perform saying the company should benefit as the mortgage market continues to shift from bank to nonbank. The majority of Ellie's clients are not the largest lenders, but the midsize to smaller regional lenders, Dobell tells investors in a research note. Further, the analyst believes 2017 could mark an inflection point in the housing market with millennials likely entering over the next five years. He believes expectations for Ellie Mae are modest.
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