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Fly News Breaks for May 7, 2015
ATML
May 7, 2015 | 07:15 EDT
As previously reported, SunTrust upgraded Atmel to Buy from Neutral. The firm Atmel reported a Q1 beat and guided Q2 slightly lower due to FX and industry demand issues rather than company specific. SunTrust upgraded shares to reflect a de-risked revenue profile, a recovery in margins, and the CEO's retirement that could pave the way for a sale of the company. SunTrust raised its price target to $10 from $8.50.
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