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Fly News Breaks for January 29, 2018
SPLK
Jan 29, 2018 | 08:14 EDT
Needham analyst Jack Andrews raised his price target on Splunk to $115 from $95 and kept his Buy rating after reading the U.S. government report for IT modernization. Andrews says the company will be a "key beneficiary of the recently signed Modernizing Government Technology Act - MGT - which provides as much as $500 million in funds for IT upgrades". The analyst also points to a "substantial YoY growth" in awards to the company as disclosed by the Federal database of awarded contracts.
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