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Fly News Breaks for October 18, 2017
ELLI
Oct 18, 2017 | 09:09 EDT
As previously reported, RBC Capital analyst Ross MacMillan upgraded Ellie Mae to Outperfrom from Sector Perform and raised his price target to $105 from $90. MacMillan says the risk-reward on the stock is favorable, forecasting accelerating revenue in 2018 due to price increases and growing seat activations. The analyst also expects the next platform version to drive higher revenue per loan and more operating leverage in 2019 and beyond.
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