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Cloudflare price target raised to $80 from $61 at KeyBanc

KeyBanc analyst Thomas Blakey raised the firm’s price target on Cloudflare to $80 from $61 and keeps an Overweight rating on the shares. The firm believes a premium is warranted given Cloudflare’s disruption of large TAMs by adding security, cloud computing, and application development services on their global network, consistent revenue growth above 30%, and recent focus on profitability and positive free cash flow.

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