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Fly News Breaks for August 11, 2016
DY
Aug 11, 2016 | 14:18 EDT
Stephens analyst Matt Duncan attributes recent weakness in shares of Dycom (DY) to reports that Google (GOOG) is putting Fiber plans on hold in three California cities, noting that while Dycom has not named Google as a customer, it is widely believed to be one. Google represents about 6%-7% of Dycom sales, said Duncan, who believes that the company should be able to make up for losing some Google sales, if that happens, with business from other customers. The firm has an Overweight rating and $104 price target on Dycom.
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