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Fly News Breaks for February 5, 2020
Feb 5, 2020 | 05:12 EDT
Needham analyst Mayank Tandon initiated coverage of Guidewire Software with a Buy rating and $140 price target. The analyst expects the company to benefit as insurance carriers move from dated legacy systems to modern cloud-based technologies. Management's emphasis on improving and scaling its cloud-based subscription offerings are helping Guidewire build a "steady stream of high quality" software-as-a-service revenue, Tandon tells investors in a research note.
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