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Fly News Breaks for February 13, 2020
SSNC
Feb 13, 2020 | 08:22 EDT
Needham analyst Mayank Tandon downgraded SS&C to Buy from Strong Buy but raised his price target to $78, up from $65. The analyst notes that the company beat on the top and bottom line for Q4 while providing a "solid" outlook for its Q1, but he is concerned with its "modest" organic growth and the lack of near-term M&A catalysts, which SS&C management has a history of executing in order to drive its outsized earnings growth.