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Fly News Breaks for February 14, 2017
T, RNG
Feb 14, 2017 | 07:52 EDT
Baird analyst William Power said RingCentral (RNG) reported solid Q4 results and guidance above his previous estimates. He noted the stock was down after-hours on a combination of in-line profitability, a hardware accounting change that impacts gross margins, and conservative AT&T (T) comments. Power would use the weakness as a buying opportunity and reiterated his Outperform rating and $29 price target on RingCentral shares.
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