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Fly News Breaks for October 2, 2019
SMAR
Oct 2, 2019 | 07:20 EDT
Canaccord analyst Richard Close lowered his price target on Smartsheet to $45 from $53 following its analyst day. The analyst believes the company's fundamental outlook remains strong but noted software multiples should see a deflation over the next 12-18 months. However, in terms of growth and execution he said Smartsheet is one of the best positioned and executing firms he follows. Close reiterated his Buy rating on Smartsheet shares.
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