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Fly News Breaks for November 12, 2018
IIVI, FNSR
Nov 12, 2018 | 08:03 EDT
DA Davidson analyst Mark Kelleher downgraded Finisar (FNSR) to Neutral with a price target of $26 after its announced merger agreement with II-VI (IIVI) on Friday. The analyst states that the deal puts Finisar stock price close to his 12-month price target and sees the possibilities of a competitive bid or regulatory block in China as "unlikely".
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