BMO Capital upgraded Atlassian (TEAM) to Outperform from Market Perform with a price target of $292, up from $255. The firm says its confidence has increased that Atlassian can sustain 20% year-over-year growth through a combination of factors, after passing the very difficult March compares. Given the current free cash flow valuation relative to revenue growth multiple, if Atlassian sustains 20% type of revenue growth, the shares will push higher, the analyst tells investors in a research note.
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