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Fly News Breaks for November 4, 2019
HOLI
Nov 4, 2019 | 06:24 EDT
Goldman Sachs analyst Jacqueline Du upgraded Hollysys Automation Technologies to Buy from Neutral with an unchanged price target of $18.70. The stock has dropped 21% year-to-date following the company's proposed placement to invest in Industrial Internet of Things in May, Du tells investors in a research note. The analyst sees value at current value at current levels and highlights Hollysy's recent Process Automation order win in two of China's largest petrochemical projects - Sinopec's Hainan Lianyou project and Zhong'an project.
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