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Fly News Breaks for March 9, 2018
CMTL
Mar 9, 2018 | 08:25 EDT
BMO Capital analyst Tim Long raised his price target on Comtech to $35 after the company's Q2 earnings beat and raised FY18 guidance. Long also points to Comtech's backlog reaching "near-record levels", which he sees as particularly impressive in light of management's conservative exclusion of unfunded contracts. The analyst keeps his Outperform rating, also anticipating Comtech's return to growth in the government business.
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