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Fly News Breaks for September 13, 2018
WAGE
Sep 13, 2018 | 07:06 EDT
SunTrust analyst Tobey Sommer lowered his price target on WageWorks to $56 after the company offered a FY18 guidance yesterday calling for revenue growth of 1%-4%, which is below the 7% assumed by consensus. The analyst further notes that WageWorks' continued delays in filing its financials is "disappointing". Sommer keeps his Buy rating however, stating that the company's client attrition should slow given that the company has not "completed an acquisition since 2017".
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