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Fly News Breaks for July 27, 2018
LOGM
Jul 27, 2018 | 07:28 EDT
As reported earlier, RBC Capital analyst Matthew Hedberg downgraded LogMeIn to Sector Perform from Outperform and lowered his price target to $90 from $140. The analyst cites the company's "mixed" outlook from its Q3 earnings update, reducing his forecast visibility and his confidence in LogMeIn's growth potential. Hedberg adds that operational issues "have been brewing for several quarters", noting changes around the company's practices and product quality issues.
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