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Fly News Breaks for August 28, 2017
ACET
Aug 28, 2017 | 07:24 EDT
Canaccord analyst Dewey Steadman lowered his price target on Aceto to $15 from $19 following Q3 earnings. The analyst said its bottom-line performance was disappointing due to a meaningful step-down in gross margins due to low-margin launches and continued contributions from its Citron acquisition. Steadman maintained his Buy rating on Aceto shares as he is still positive on its potential for growth driven by new product launches and product approvals.
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