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Fly News Breaks for January 3, 2017
CRAY
Jan 3, 2017 | 08:50 EDT
Needham analyst Richard Kugele says his top pick for the year is Cray, saying he is optimistic that in 2017 Cray can recover from one of his worst performing names in 2016 to potentially his best. The analyst expects upside to be driven by collective impact of all factors finally being fully quantified, and opportunity for upside to the "no growth" current expectation for 2017 if oil prices rebound, government spending and visibility improves, or if the technical challenges around KNL and Pascal integrations lift. He reiterates a Buy rating and $25 price target on the shares.
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