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Fly News Breaks for October 3, 2019
SMAR
Oct 3, 2019 | 09:19 EDT
RBC Capital analyst Alex Zukin lowered his price target on Smartsheet to $53, citing the company's "consistent" valuation premium relative to its peer group on Enterprise Value to expected revenue multiple basis. The analyst is keeping his Outperform rating on Smartsheet shares however following the company's Analyst Day presentation, noting that the management was "more confident" in its ability to deliver on targets laid out last year thanks to the company's "growing International investments, improved channel approach, and the growth of Accelerators".
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