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Fly News Breaks for April 28, 2017
AVT
Apr 28, 2017 | 06:19 EDT
SunTrust analyst William Stein downgraded Avnet to Hold from Buy and cut its price target to $39 from $53 following the 18% reduction in earnings guidance for FY18. The analyst said changes in supplier compensation are impacting margins and believes the trend could be structural and continue, creating further downside risk from here.
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