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Fly News Breaks for February 6, 2020
Feb 6, 2020 | 09:22 EDT
As previously reported, Sidoti analyst Gregory Burns upgraded ePlus (PLUS) to Buy from Neutral with a price target of $105, up from $98. The company's Q3 revenue and EPS beat consensus forecasts, after which he raised his EPS estimates for F2020-F2022, stating that ePlus has a growing mix of services revenue that is enhancing margins and the recurring revenue stream. Cisco's (CSCO) prior commentary about a slowdown in IT spending was not an issue for ePlus given its strategy to target higher growth segments and its share gains, added Burns.
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