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Fly News Breaks for February 7, 2018
MODN
Feb 7, 2018 | 04:55 EDT
JMP Securities analyst Patrick Walravens upgraded Model N to Outperform with a $20 price target following the strong Q1 report and guidance. The analyst expects further share upside to be driven by economic benefits of an increasingly recurring model, completion of Revitas integration, making Model N a bigger player in a less crowded market, positive free cash flow next quarter and for the rest of the year, and improved profitability should provide the company options to refinance its $50M in term debt at a lower rate.
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