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Fly News Breaks for May 10, 2019
May 10, 2019 | 08:46 EDT
Maxim analyst Allen Klee raised his price target on Ebix to $124 and kept his Buy rating after its above-consensus Q1 earnings driven by "strong growth" in India and operating cash flows reaching all-time highs. At 11.6-times his forward earnings estimate, the analyst also sees valuation on Ebix as "compelling", with catalysts around the company's IPO/private equity investment of India business as well as a potential closing of its proposed Yatra Online acquisition.
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