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Fly News Breaks for February 6, 2018
CRUS
Feb 6, 2018 | 07:06 EDT
Stifel analyst Tore Svanberg said he believes Cirrus Logic's (CRUS) large results and outlook shortfall compared to expectations was driven primarily by weaker than expected iPhone unit shipments and not content losses or unexpected selling price erosion. Cirrus Logic has shown in the past that it can return to growth and the company's inventory remains healthy, said Svanberg, who maintains a Buy rating on Cirrus shares but lowered his price target on the stock to $60.
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