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Fly News Breaks for November 6, 2017
Nov 6, 2017 | 07:41 EDT
Canaccord analyst Richard Close noted the recent pullback in HMS Holdings and said he understood it given the perception of a lack of execution and transparency. Although he could understand why investors were disappointed, and he lowered his estimates, he believes the pullback is an overreaction. Close said the quarterly miss was due to the backlog and not related to a lack of new sales or customer attrition. He reiterated his Buy rating but lowered his price target to $17 from $22 on HMS Holdings shares.
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