Fly News Breaks for February 4, 2020
Feb 4, 2020 | 06:11 EDT
RBC Capital analyst Alex Zukin initiated coverage of Slack Technologies (WORK) with an Outperform rating and $25 price target. The analyst says the company is benefiting from its "leading brand, differentiated technology, and strong tailwinds" in the growing workplace collaboration market and believes that it can sustain a multi-year revenue growth rate of over 30%. Zukin adds that total market estimates for workplace collaboration vary widely, but the fact that Microsoft (MSFT) is all-in on this market suggests that it is closer to his estimate of $86B than Gartner's estimate of $2B.
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