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Fly News Breaks for January 22, 2020
PFPT
Jan 22, 2020 | 08:37 EDT
RBC Capital analyst Matthew Hedberg raised his price target on Proofpoint to $160 and kept his Outperform rating ahead of its Q4 earnings next week, saying the results should be "strong". The analyst is also adjusting his model to reflect the company's closed acquisition of ObserveIT and sees Proofpoint as well positioned for upside to organic revenue and free cash flow growth expectations while citing its "attractive valuation".
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