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Fly News Breaks for April 7, 2017
LOGM
Apr 7, 2017 | 05:54 EDT
Cowen analyst Gregg Moskowitz upgraded LogMein to Outperform from Neutral and raised its price target to $115 from $100 saying shares are poised to exceed expectations. Moskowitz said shares have quietly underperformed since the July RMT announcement with Citrix (CTXS) GoTo business and believes shares are likely to outperform from here. The analyst said 2017 guidance appears conservative as the company recently announced another price increase for its LogMein Pro remote access product at $249 for 2 PCs for most of Q1 versus $149 prior.
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