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Fly News Breaks for November 8, 2018
AAOI
Nov 8, 2018 | 06:18 EDT
Loop Capital analyst James Kisner lowered his price target on Applied Optoelectronics to $8 after its Q3 results that were in line with the negative pre-announcement earlier along with a "very disappointing" Q4 guidance. The analyst also anticipates a "significant cut to 2019 expectations", adding that he is skeptical that the company can deliver on its forecast. Kisner further points to Applied Optoelectronics' inventory spiking 16% and cash balance declining to $64M from $78M, keeping his Sell rating on the stock.
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