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Fly News Breaks for January 3, 2019
LOGM
Jan 3, 2019 | 16:27 EDT
Stephens analyst Dmitry Netis initiated LogMeIn with an Overweight rating and a price target of $93, saying the company represents "one of a few profitable SaaS companies at scale" and is also a "good allocator of capital with a highly successful track record of M&A." The analyst also assigns the stock a "Volatile" designation, warning that the modest growth profile of the web conferencing market and "increasingly competitive landscape" makes his cautious on LogMeIn's long term growth outlook potential.
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