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Fly News Breaks for July 28, 2017
GIMO
Jul 28, 2017 | 09:33 EDT
Needham analyst Alex Henderson believes Gigamon is "showing clear signs of a sustained recovery" following its Q2 results. He reiterates a Buy rating on the shares with a $50 price target. If the company does not deliver, activist Elliott will likely force the board's hand and into a takeover, Henderson tells investors in a post-earnings research note. He thinks a single bidder could result in $50-$55 per share buyout price whereas a multi-bidder process could result in a $60-plus valuation.
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