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Fly News Breaks for May 4, 2016
CRAY
May 4, 2016 | 07:42 EDT
Craig-Hallum analyst Chad Bennett downgraded Cray to Hold and lowered its price target to $34 from $40. The analyst said FY16 guidance is back-end loaded and has increased level of risk due to some component delays from third party vendors. Bennett said shares are priced for high visibility but thinks there is significant risk to guidance and is moving to the sidelines.
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