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Fly News Breaks for June 9, 2017
EXTR
Jun 9, 2017 | 07:10 EDT
After meeting with Extreme's management, DA Davidson analyst Mark Kelleher says that the company is poised to close on its acquisition of Avaya networking assets at the end of June. The company's acquisition of networking assets from Brocade could close at the beginning of August, the analyst adds. He says that the company will focus its R&D efforts on one of ihe four operating systems it will have while spending modest amounts on R&D on the other three. Kelleher says that the company's deals may enable it to become " a strong, profitable competitor in the networking market, "and he thinks its revenue can reach $1B when all of its deals are closed. He raised his price target on the shares to $14 from $10 and keeps a Buy rating.
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