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Fly News Breaks for May 30, 2018
OCLR, LITE, FN
May 30, 2018 | 09:22 EDT
As previously reported, Northland downgraded Fabrinet (FN) to Market Perform from Outperform with a $33 price target. Analyst Tim Savageaux sees increased risks of material manufacturing insourcing from Lumentum (LITE), its largest customer, as well as customer concentration from the Lumentum/Oclaro merger, which will result in 20-25% customer concentration.
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