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Fly News Breaks for July 16, 2018
VG
Jul 16, 2018 | 07:35 EDT
Citi analyst Michael Rollins raised his price target for Vonage to $16 and removed his "High Risk designation" on the shares. The analyst sees potential for improving sales results as new products accelerate bookings growth. The market continues to improve valuation multiples for the cloud communication firms given the "significant category growth and large addressable market," Rollins tells investors in a research note. He keeps a Buy rating on Vonage shares.
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