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Fly News Breaks for February 5, 2020
Feb 5, 2020 | 05:00 EDT
BMO Capital analyst Keith Bachman downgraded New Relic (NEWR) to Market Perform from Outperform with a price target of $72, down from $78. The analyst is "dubious" on New Relic's improving revenue or annual recurring revenue growth following last night's results. Further, having fiscal 2021 as an investment year will keep the stock range-bound, Bachman tells investors in a research note. The analyst prefers shares of Dynatrace (DT) over New Relic.
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