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Fly News Breaks for September 21, 2018
PFPT
Sep 21, 2018 | 06:58 EDT
Wedbush analyst Steve Koenig tells investors in a research note that, after receiving questions about what's behind Proofpoint's poor price action, he has a "strong suspicion" that shares have bottomed and are headed north again. Koeing, who has an Outperform rating and $136 price target on shares, says he sees growing recognition among shareholders that out-year consensus revenues are too high and valuation looks compelling.
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