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Fly News Breaks for March 1, 2017
ARW, AVT
Mar 1, 2017 | 05:37 EDT
Goldman Sachs analyst Mark Delaney downgraded Avnet (AVT) to Sell citing valuation and "increased pressure" from semi supplier consolidation. The stock trades at about a 20% valuation premium to its key competitor Arrow Electronics (ARW), Delaney tells investors in a research note. He cut his price target for Avnet shares to $43 from $47.
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