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Fly News Breaks for May 24, 2017
IPAS
May 24, 2017 | 06:51 EDT
Aegis analyst Victor Anthony upgraded iPass to Buy and raised its price target to $2.75 from $1.35 and increased 2018 estimates following the Q1 report. The analyst said management has reduced operating expenses, tripled the network footprint, and is transitioning to an unlimited usage, SaaS subscription model. Anthony expects a 2H revenue ramp, improving profitability over the next two years. and upside from high-margin big data services.
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