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Fly News Breaks for July 17, 2018
AVGO, CA
Jul 17, 2018 | 04:58 EDT
Jefferies analyst John DiFucci downgraded CA Technologies (CA) to Hold with the shares trading just below Broadcom's (AVGO) proposed $44.50 offer price. The analyst sees a "very low" probability of a competing offer emerging and keeps a $44.50 price target on the shares. CA's legacy Mainframe business is less attractive to possible strategic acquires "in a cloud-first world," DiFucci tells investors in a research note. Further, he notes that private equity players have had past opportunities to take a look at the company to no avail.