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Fly News Breaks for October 31, 2016
ULTI
Oct 31, 2016 | 07:04 EDT
Wedbush analyst Steve Koenig upgraded Ultimate Software to Outperform saying he sees several reasons why the company's initial FY17 revenue guidance will be "surprisingly positive." Consensus FY17 revenue growth expectations of 22% looks "much too low" given the accelerating pace of Ultimate's services revenue, Koenig tells investors in a research note ahead of the company's Q3 results tomorrow. He raised his price target for the shares to $242 from $212.
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