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Fly News Breaks for November 8, 2019
WORK
Nov 8, 2019 | 08:01 EDT
Wedbush analyst Daniel Ives initiated coverage of Slack Technologies with an Underperform rating and $14 price target. While Slack has done a "commendable" job getting to this juncture, Ives tells investors in a research note that he believes the next step of growth will be a "major uphill battle" as the Street continues to overestimate growth in 2020 and beyond, which speaks to his more negative thesis on this name heading into the next 12 to 18 months and to his more bearish view at current levels.
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