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Fly News Breaks for January 17, 2020
Jan 17, 2020 | 07:32 EDT
Oppenheimer analyst Koji Ikeda upgraded Zendesk to Outperform from Perform with a $103 price target. In a research note to investors, Ikeda says he believes that the recent execution issues will prove transitory and the investment narrative will shift to the Sunshine platform, which he thinks will be a good growth and upside driver for the business over the next 12 to 24 months. Ikeda adds that he believes the setup is good for the business to get back on track and to deliver consistent beat-and-raises in the future, which should result in better investor sentiment and act as a catalyst for a higher valuation.
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