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Fly News Breaks for February 8, 2019
LN
Feb 8, 2019 | 08:10 EDT
Goldman Sachs analyst Masaru Sugiyama downgraded Line Corp. to Sell from Neutral and lowered his price target on the stock to Y2,900 from Y3,600, stating that he previously expected Line's advertising business to continue to drive monetization but he now believes the company is facing greater challenges on monetization from increasing advertising volumes alone. He also believes the cash burn will rise significantly going forward given the competitive landscape.
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