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Fly News Breaks for August 23, 2017
FN
Aug 23, 2017 | 08:23 EDT
JPMorgan analyst Paul Coster said a temporary slowdown in Chinese telco demand is making for a slow start to FY18 for Fabrinet, leading to the company's "weak" Q1 guidance, though he contends that was "largely anticipated" in the market. The analyst, who sees the stock to "trade sideways" until more positive demand data points are apparent from Fabrintet customers, trimmed his price target on the stock to $54 from $57 but keeps an Overweight rating on the shares.
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