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Fly News Breaks for June 2, 2017
GWRE
Jun 2, 2017 | 07:53 EDT
UBS analyst Ian Strgar raised his price target on Guidewire to $77 from $72 following Q3 results. The analyst noted the quarter included the company's largest expansion of Tier-1 customers and expects margins to ramp in operating margins in 2018. Strgar believes the stock's premium multiple is warranted given Guidewire's near-zero churn, increasing customer references, and decade long commitments from the P&C industry. Strgar reiterated his Buy rating on Guidewire shares.
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