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Fly News Breaks for January 21, 2020
NEWR
Jan 21, 2020 | 06:58 EDT
BMO Capital analyst Keith Bachman raised his price target on New Relic to $78 and kept his Outperform rating to reflect his increased confidence in the company's near-and medium-term business trends. The analyst believes that New Relic's product positioning has improved, even though he still has some "residual skepticism" about some of the company's of recently announced FY21 and longer term growth plans. Bachman anticipates "solid execution" from New Relic, particularly with its avenues for growth with enterprise customers.
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