Workday (WDAY -1.9%) is lower on underwriter coverage day, as 5 bullish ratings are joined by 3 neutral ones. Like UBS, the cautious parties criticize Workday's valuation while praising its potential. JPMorgan: "While we believe WDAY may become one of the most important software names of this generation by fundamentally changing how enterprises manage their HR and financial records, the company’s cash flow profile suggests the stock is fairly valued at current levels." (yesterday)
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