Box (BOX): Sentiment Improving - Drexel Hamilton
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Drexel Hamilton analyst, Brian White, reiterated his Buy rating on Box, Inc. (NYSE: BOX) and believes that the negative sentiment that has plagued the company over the last year may be turning after a strong 2Q:FY17 report a couple of weeks ago that was followed by the introduction of new product innovations at last week's BoxWorks.
Box's stock has recovered from heavy losses earlier this year and is now up 4% YTD but is still down 41% from its intra-day high in January 2015. The analyst believes that Box is one of the more underappreciated and misunderstood cloud plays in the market today at its current valuation of CY:17 EV/revenue of just 3.4x.
No change to the $18 price target.
Shares of Box, Inc. closed at $14.57 yesterday.
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