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Fly News Breaks for June 16, 2016
QLGC, CAVM
Jun 16, 2016 | 07:30 EDT
Brean Capital believes Cavium's (CAVM) acquisition of QLogic (QLGC) will raise questions as to why they bought a low growth value company. The firm lowered its estimates as a results despite seeing little product overlap between the two companies. Brean Capital maintained its Buy rating and lowered its price target to $60 from $67 on Cavium shares.
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