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Fly News Breaks for October 13, 2017
AAOI
Oct 13, 2017 | 08:25 EDT
Cowen analyst Paul Silverstein lowered his price target on Applied Optoelectronics to $81 from $102 following the company's earnings pre-announcement. He said its announcement fuels concerns regarding the trajectory of its operating model, though he does not see an increased risk in the competitive landscape as his checks show they remain a strong supplier to a fast growing Web 2.0 data center end market. Silverstein maintained his Outperform rating on Applied Optoelectronics shares, which are down about 20% in pre-market trading to $47.25.
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