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Fly News Breaks for November 8, 2016
CRAY
Nov 8, 2016 | 07:28 EDT
After Cray reported weaker than expected Q3 results and cut its guidance, Stifel analyst Aaron Rakers continues to believe that the company's position in the high end supercomputing market remains strong. The analyst says that the stock's risk/reward ratio is positive for longer term investors. He cut his price target on the name to $30 from $40 but keeps a Buy rating on the stock.
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