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Fly News Breaks for November 12, 2018
EPAY
Nov 12, 2018 | 05:59 EDT
First Analysis analyst Lawrence Berlin upgraded Bottomline Technologies to Strong Buy with an unchanged price target of $88. Friday's 16% share decline following the company's "solid" fiscal Q1 results was unwarranted, Berlin tells investors in a research note. The analyst points out that Bottomline met or exceeded his estimates for revenue, adjusted EBITDA, adjusted EBITDA margin, and non-GAAP earnings, and that management reaffirmed both its fiscal 2019 guidance and longer-term target growth.
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