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Fly News Breaks for January 16, 2020
GDDY
Jan 16, 2020 | 08:43 EDT
SunTrust analyst Naved Khan lowered his price target on GoDaddy to $89 to reflect its expected higher tax rates effective 2022 but keeps his Buy rating, saying the company is positioned to deliver low-double-digit organic growth in revenue and bookings as well as mid-teen growth in free cash flows in 2020. The analyst also sees GoDaddy subscription growth improving modestly, its average revenue per user metric benefiting from higher attach rates, and its valuation of 17-times expected free cash flows as attractive.
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