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Fly News Breaks for February 12, 2016
LOGM
Feb 12, 2016 | 05:47 EDT
JPMorgan analyst Darren Jue lowered his price target for LogMeln to $66 saying the company's organic billings growth slowed in Q4. Organic billings growth "appeared to decelerate meaningfully" in the quarter, even after adjusting for large, multi-year deals in the prior year period, Jue tells investors in a post-earnings research note. He points out, however, that LogMeln's FY16 revenue guidance was raised, suggesting the quarter "may simply be an anomaly." The analyst keeps a Neutral rating on the shares.
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