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Fly News Breaks for July 27, 2018
TEAM
Jul 27, 2018 | 08:48 EDT
BMO Capital analyst Keith Bachman raised his price target on Atlassian to $82 after its Q4 results showed an 11% sequential increase in billings and a gross margin expansion of 55bps. The analyst also keeps his Market Perform rating, noting that its high valuation that kept him from taking a more constructive stance is "deserved". Backman adds that he would prefer to have a deeper understanding of the more integrated relationship with Slack that was also announced yesterday.
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