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Fly News Breaks for October 27, 2015
CRUS
Oct 27, 2015 | 07:41 EDT
Stifel blames Cirrus' (CRUS) decline yesterday on a negative preannouncement by Dialog, as the firm believes that investors read the negative preannouncement as signaling weaker unit volume sales by Apple (AAPL), Cirrus' largest customer. However, the firm believes that Cirrus' transition to 55 nm indicates that Apple is using more of Cirrus' products. The firm keeps a $45 price target and Buy rating on Cirrus.
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