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Fly News Breaks for June 2, 2016
BOX
Jun 2, 2016 | 08:30 EDT
Canaccord said they would be buyers on the dip in Box shares following its Q1 results. The firm said the company reported solid headline results but there was confusion surrounding the seasonality and change of billing terms. Canaccord said the beatdown of the shares is deserved, but it also presents an opportunity to buy a promising company at what is likely to be a compelling and temporary discount. Canaccord reiterated its Buy rating and lowered its price target to $16 from $18 on Box shares.
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