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Fly News Breaks for June 17, 2019
CEMI
Jun 17, 2019 | 07:38 EDT
Benchmark analyst Bruce Jackson said he is taking a more conservative approach to his 2020 revenue estimates for Chembio Diagnostics and using a more conservative multiple, which lowered his price target on the stock to $9 from $14. Management guidance for 2019 is expected to be backend loaded and he cites the "binary nature" of potential contracts for his more cautious stance. Jackson keeps a Speculative Buy rating on Chembio shares.
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