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Fly News Breaks for May 2, 2018
IIVI
May 2, 2018 | 09:15 EDT
Needham analyst James Ricchiuti lowered his price target on II-VI to $50 from $56 citing a "mixed" Q3 result that included "weaker" 3D sensing revenue, higher operating expenditures, and higher tax rates. The analyst keeps his Buy rating on II-VI longer term, noting the company's diverse portfolio with Industrial, Optical, and Military exposure as well as its high-growth opportunities and gross margin expansion trends.
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