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Fly News Breaks for June 24, 2019
LN
Jun 24, 2019 | 10:54 EDT
Goldman Sachs analyst Masaru Sugiyama upgraded Line Corp to Neutral from Sell with a Y2,700 price target, saying the stock has declined 24% since being added to the firm's Sell list in February and thinks it is now fairly valued. In a research note to investors, Sugiyama also says Line's enterprise value looks reasonable and believes cash burn in new businesses will ease. Looking ahead, the analyst expects announcements of new businesses at Line's business strategy conference on June 27, especially in the fintech space.
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