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Fly News Breaks for June 15, 2017
SPLK
Jun 15, 2017 | 08:36 EDT
As noted earlier, Wedbush downgraded Splunk to Neutral from Outperform. After conducting checks, analyst Steve Koenig cited the emergence of "meaningful competition," the "complexity" of its transition to the cloud, and "somewhat messy fundamentals" as reasons for the downgrade. The analyst thinks that the company will continue to post beat and raise results, but he expects it to outperform less than in the past. Target to $63 from $72.
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