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Fly News Breaks for August 14, 2019
AVYA
Aug 14, 2019 | 09:18 EDT
Morgan Stanley analyst Meta Marshall said Avaya demonstrated some stabilization of results in Q3, but she thinks completion of the company's strategic review represents the best opportunity to achieve her $14 price target, which is down from $18.50 previously, given the continued deterioration of its installed base and ongoing shareholder turnover. The pressure seen on the stock over the past 3 months will continue if Avaya wants to complete its cloud transition on their own, said Marshall, who keeps an Equal Weight rating on Avaya shares.
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