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Fly News Breaks for March 9, 2018
FNSR
Mar 9, 2018 | 09:17 EDT
Goldman Sachs analyst Doug Clark lowered his price target on Finisar to $15 from $16 and reiterated his Sell rating after the company's Q3 earnings miss. Clark says Finisar's Datacom and Telecom end markets have been challenged, while the trends of competition in Datacom, limited recovery in China, and low 3D sensing contributions should continue. The analyst adds that gross margins fell below 30% in the latest quarter and are expected to remain below that level for "at least several quarters".
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