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Fly News Breaks for March 13, 2018
VCRA
Mar 13, 2018 | 07:16 EDT
Leerink analyst David Larsen downgraded Vocera Communications to Market Perform from Outperform and lowered his price target for the shares to $29 from $31. The analyst cites valuation and concerns over revenue growth expectations for the downgrade. Larsen sees a "fairly high" valuation relative to peers and notes the company's backlog declined year-over-year in 2017. He also views revenue growth expectations for 2018 and 2019 as high. The analyst sees "significant" share resistance at $31-$32.
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