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Fly News Breaks for April 17, 2018
ACIA
Apr 17, 2018 | 06:09 EDT
BofA/Merrill analyst Tal Liani downgraded Acacia Communications (ACIA) and slashed its price target to $28 form $46 following the announcement of a ban on exports to ZTE for seven years by the US Department of Commerce. Liani said the ban is a "significant incremental risk" for Acacia given ZTE is a top customer and represented 30% of 2017 sales.
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