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Fly News Breaks for May 9, 2019
ENV
May 9, 2019 | 04:58 EDT
JPMorgan analyst William Cuddy downgraded Envestnet to Neutral from Overweight while raising his price target for the shares to $73 from $71. Following the company's Q1 results, the analyst reduced his estimates to reflect lower revenue growth than previously modeled. He now sees limited upside in 2019 with asset-based fee rate deterioration a headwind to revenue.
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