Fly News Breaks for January 10, 2018
Jan 10, 2018 | 07:25 EDT
As previously reported, Morgan Stanley analyst Keith Weiss upgraded Workday to Overweight from Equal Weight as he believes the company can sustain subscription revenue growth of over 30% by holding steady share in a market with an opportunity of $69B currently that is also grow at a 6% compound growth rate through 2020. Workday could surpass $8B in subscription revenue by 2025, projects Weiss, who sees the company sustaining free cash flow growth of greater than 25% through FY24. He raised his price target on Workday shares to $145 from $108.
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