Mimecast Limited (MIME): Raising PT - Oppenheimer
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Oppenheimer analyst, Shaul Eyal, reiterated his Outperform rating on shares of Mimecast Limited (NASDAQ: MIME) and raised his price target to $20 from $15 based on "increasing confidence in MIME's long-term prospects". The analyst stated "MIME's strong June-quarter performance demonstrated the underlying strength of the company's model".
The new price target is based on 4.3x new FY19E revenue of $255M.
Shares of Mimecast Limited closed at $16.44 yesterday.
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