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Fly News Breaks for May 27, 2016
WDAY
May 27, 2016 | 06:43 EDT
Wedbush analyst Steve Koenig downgraded Workday to Underperform based on a likely deceleration in fundamentals and left is price target unchanged at $63. His Q1 checks indicate softer implementation pipelines due to macro and competitive factors, and Oracle's (ORCL) aggressive discounting. Koenig said investor expectations appear too high and sees risk/reward skewed to the downside over the next 12 months.
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