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Fly News Breaks for November 2, 2018
VRSN
Nov 2, 2018 | 05:01 EDT
JPMorgan analyst Sterling Auty upgraded VeriSign to Neutral and raised his price target for the shares to $160 from $125. The two biggest items in the new agreement with the Department of Commerce is a return of pricing flexibility for VeriSign and a clarification on vertical integration that opens up the potential for the company to own registrar operations for top-level domains that are not .com, Auty tells investors in a research note. The analyst upgraded the shares and raised his price target after factoring in the potential price increase on financials from the new agreement.
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