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Fly News Breaks for July 27, 2018
LOGM
Jul 27, 2018 | 06:12 EDT
Piper Jaffray analyst Alex Zukin downgraded LogMeln to Neutral and cut his price target for the shares to $95 from $135. The company last night reported a "modest beat" while lowering its full-year targets across the board due to a number of issues impacting renewal rates in its collaboration business, Zukin tells investors in a research note. The analyst moves to the sidelines "during this digestion period given increased execution risk and a lack of meaningful near-term catalysts."
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