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Fly News Breaks for June 21, 2018
ELLI
Jun 21, 2018 | 05:07 EDT
JPMorgan analyst Sterling Auty downgraded Ellie Mae to Neutral while raising his price target for the shares to $125 from $112. The analyst cites valuation for the downgrade with the shares up 30% year-to-date. He sees a "battleground" between the success Ellie Mae is having in gaining market share versus the headwinds that continue in the mortgage market.
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