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Fly News Breaks for July 7, 2016
CRAY
Jul 7, 2016 | 10:39 EDT
Craig-Hallum analyst Chad Bennett noted that Cray updated the timeline for its Cori project, which he calls "the largest and highest-profile contract" for the company in the second half of this year. The fact that the timeline has been pushed out is "one more data point" confirming his suspicion that component delays are material and that there is risk to the company's revenue guidance for 2016, Bennett tells investors. The firm has a Hold rating and $30 price target on Cray shares.
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