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Fly News Breaks for July 27, 2018
LOGM
Jul 27, 2018 | 07:11 EDT
KeyBanc analyst Alex Kurtz cut his price target for LogMeIn to $120 from $135 following the company's "disappointing" Q3 results and FY18 guidance, citing a negative impact in the Collaboration business. Kurtz tells investors in a research note that he remains Overweight on the stock, as he sees opportunities for correcting internal issues that could help stabilize Collaboration revenue, as well as accelerating Jive performance.
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