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Fly News Breaks for January 9, 2018
ELLI
Jan 9, 2018 | 04:56 EDT
Barclays analyst Saket Kalia upgraded Ellie Mae to Overweight and raised his price target for the shares to $114 from $100. Mortgage volume processed by the company's platform will accelerate for the next two years, Kalia tells investors in a research note. The analyst has more conviction in his fiscal 2018 and 2019 revenue estimates because he thinks the recently acquired Velocify is a larger business than he thought.
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