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Fly News Breaks for February 25, 2019
PFPT
Feb 25, 2019 | 08:04 EDT
KeyBanc analyst Rob Owens raised his price target for Proofpoint to $136 from $120 saying it has now become one of the better free cash flow profiles in security, generating a 22% free cash flow margin in 2018 even with duration in the mid-teens. The analyst also cited stabilizing outlook/execution and conservative estimates. A strong sector focus creates competitive moat and makes the company an appealing potential M&A target, he contends. Owens reiterates an Overweight rating on the shares.
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