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Fly News Breaks for April 16, 2018
ACIA
Apr 16, 2018 | 20:38 EDT
Loop Capital analyst James Kisner lowered his price target on Acacia Communications (ACIA) to $32 following the announcement from the U.S. Commerce Department of plans to impose an export ban on ZTE (ZTCOY). The analyst notes that he is removing ZTE sales from his revenue models for FY18 and FY19 but keeps his Buy rating, adding that with the stock price decline of 35% from yesterday's close, the downside is "largely priced in".
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