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Goldman Removes Mimecast From 'Buy' List, Downgrades To Neutral

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Competition for Mimecast Ltd MIME has intensified significantly, especially from large email incumbents. Goldman Sachs’ Heather Bellini downgraded the rating for the company from Buy to Neutral, while reducing the price target from $12 to $10.50.

“Our Buy was based on MIME’s ability to drive revenue upside by upselling its existing customers as well as expanding its customer base as it capitalized on the migration of...