Mimecast Limited (MIME): Raising PT Ahead Of Earnings - 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 $25 from $20 based on increasing confidence in MIME's longterm prospects.
MIME is scheduled to report on 11/9 and the analyst expects solid results, based on the belief that MIME's solutions are "competitively compelling" and his view that industry demand is strong. Proprietary channel checks and anecdotal industry evidence including: PFPT's positive 3Q performance, outlook, and commentary confirm and coincide with this belief.
Shares of Mimecast Limited closed at $18.90 yesterday.
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