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Fly News Breaks for May 1, 2018
IIVI
May 1, 2018 | 14:59 EDT
Loop Capital analyst James Kisner lowered his price target for II-VI to $56 following the company's Q3 results but reiterates a Buy rating on the shares. The company's revenue performance was impressive, with broad-based strength and ramping contributions from important new growth areas, but its guidance was mixed, Kisner tells investors in a post-earnings research note. The analyst expects II-VI's new vestments will ultimately result in higher revenue and operating expense leverage in the future.
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