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Fly News Breaks for November 7, 2017
FN
Nov 7, 2017 | 09:33 EDT
Needham analyst Alex Henderson lowered his price target on Fabrinet to $45, citing the company's soft outlook for Q4. Henderson says most of the industry offered weak guidance for next quarter due to slowing China demand, adding that the company's cited telecom issues are not surprising. Looking at FY18, the analyst expects the company to post modest gains off the Q4 base if China remains flat, keeping his Strong Buy rating.
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