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Fly News Breaks for May 22, 2019
DY
May 22, 2019 | 07:10 EDT
Canaccord analyst Chip Moore lowered his price target to $64 from $68 following the company's Q1 results, saying the quarter was "solid" overall. Moore, who maintains a Buy rating, tells investors in a research note that he finds Dycom well-positioned as a near pure-play in telecom network expansion. While he acknowledges more challenging visibility near term, Moore says he finds current valuation reasonable ahead of what he views as the next cyclical wave of multi-year growth and likes the risk/reward here.
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