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Fly News Breaks for April 28, 2017
GIMO
Apr 28, 2017 | 07:28 EDT
As previously reported, Credit Suisse analyst Kulbinder Garcha downgraded Gigamon to Neutral from Outperform saying that the company delivered Q1 revenues at the higher end of guidance, but "guidance was disappointing." The analyst believes this presents another push-out of the recovery to revenue growth and, along with another change in sales leadership, suggests that the issues around returning to growth may take longer than expected. Garcha also lowered his price target on the shares to $29 from $38.
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