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Fly News Breaks for October 4, 2019
Oct 4, 2019 | 09:42 EDT
B. Riley FBR analyst Zach Cummins raised his price target for to $62.50 from $50 ahead of the company's Q3 results and reiterates a Neutral rating on the shares. The "seemingly more positive tone" in negotiations with the United States Postal Service could potentially lead to an extension of the current negotiated service agreements margins for's remaining reseller partner, Cummins tells investors in a research note. As such, he modestly increasing his estimates for this year and next. However, the analyst says that while developments with the reseller program have improved since Q1, he remains cautious around the forward numbers for, believing the USPS will meaningfully reduce margins for resellers in fiscal 2020 and 2021.
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