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Fly News Breaks for February 14, 2020
Feb 14, 2020 | 06:36 EDT
Piper Sandler analyst Brent Bracelin upgraded BlackLine (BL) to Overweight from Neutral with a price target of $78, up from $60. The analyst sees "strong momentum" for the company entering 2020 with several potential upside levers, including SAP Solex deal momentum, mix shift to strategic automation products, and direct sales investments that are starting to bear fruit. Bracelin sees a favorable risk/reward with downside risk in the shares "tempered" by BlackLine's strategic relationship with SAP (SAP). BlackLine can see further multiple expansion as visibility continues to improve, the analyst tells investors in a research note.
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