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Fly News Breaks for March 29, 2019
Mar 29, 2019 | 07:24 EDT
Benchmark analyst Mark Schappel said his $15 price target on Mitek Systems "may be one of the more aggressive ones on the Street," but based on recent transactions in the space he believes it is on the conservative side. In a takeover scenario, Schappel thinks Mitek could fetch up to $18.50 per share and does not think $20 per share "is out of the question," he tells investors. In a previous note to investors, Schappel attributed recent strength in Mitek Systems shares to takeover speculation, the Fly notes. The analyst keeps a Buy rating and $15 price target on Mitek shares.
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