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Fly News Breaks for June 14, 2019
WIX
Jun 14, 2019 | 08:36 EDT
Jefferies analyst Brent Thill says his channel checks uncovered a "broad-based" price increase in Wix.com products averaging 22%. This follows the average 55% increase in mid-August 2018, Thill tells investors in a research note. The analyst believes Wix's "constant" product innovation is earnings pricing power and that the company should be able to drive 25%-plus revenue growth for the "foreseeable future." He expects the stock to continue working and keeps a Buy rating on Wix.com with a $165 price target.
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