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Fly News Breaks for July 13, 2015
GLW
Jul 13, 2015 | 07:39 EDT
BofA/Merrill analyst Wamsi Mohan downgraded Corning to Underperform as he no longer believes Corning will be able to hit its target of flat display profitability in 2015. The analyst cited headwinds that include the PC slowdown, increasing China risks, reduced TV OEM growth expectations, weakness at several supply chain companies and relatively high inventory levels.Mohan lowered his price target on Corning shares to $16 from $25.
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