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Fly News Breaks for January 10, 2017
CRAY
Jan 10, 2017 | 09:06 EDT
Needham analyst Richard Kugele says Cray's in-line preannouncement removes the uncertainty that has continued to loom over the company's Q4 results. While Cray believes 2017 will be another trying year, the analyst believes the removal of 2017 growth proactively protects the downside case while potentially offering upside if the economy, government spending, or the oil sector helps drive better results. Kugele would be a buyer on any weakness related to this in-line preannouncement. He reiterates a Buy rating and $25 price target on the shares.
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