Fly News Breaks for January 13, 2020
Jan 13, 2020 | 07:06 EDT
Credit Suisse analyst Brad Zelnick raised his price target for Splunk to $170 from $150 as he sees pricing changes alleviating major barriers to incremental adoption. The analyst also sees room for continued multiple expansion as Splunk's model begins to normalize and the Street gains more confidence in its ability to hit its fiscal year 2023 free cash flow target of approximately $1B. Zelnick has an Outperform rating on the shares.
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