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Fly News Breaks for May 14, 2019
MIME
May 14, 2019 | 08:49 EDT
BMO Capital analyst Keith Bachman raised his price target on Mimecast to $55 and kept his Outperform rating after its "solid if unspectacular" results in Q4 as well as a raise to its FY19 revenue estimates. The analyst notes that the top-line beat was small by "historical standards", but the company's billings upside was "more meaningful". Bachman also anticipates Mimecast's growing mix to generate a "sustainable competitive advantage" over the long term.
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