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Fly News Breaks for August 2, 2017
ULTI
Aug 2, 2017 | 07:34 EDT
Canaccord analyst David Hynes said the Q2 results from Ultimate Software were both surprising and disappointing. The analyst said its problem was not a demand issue but rather implementation issues, which will take some time to overcome. He sees support for the shares at around $185 and could see the shares retesting their recent highs within a year. Hynes lowered his price target to $225 from $240 on Ultimate Software shares but reiterated his Buy rating.
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