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Fly News Breaks for January 2, 2020
UPWK
Jan 2, 2020 | 06:21 EDT
Citi analyst Hao Yan downgraded Upwork to Neutral from Buy with a price target of $12, down from $23. The analyst cites the stock coming under pressure since the company's Q3 results amid a weaker growth outlook and believes that a Neutral rating with a "high risk" classification is warranted because of the sector re-rating, recent CEO departure, regulatory overhand, and decelerating Gross Services Volume.
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