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Fly News Breaks for July 2, 2018
IIVI
Jul 2, 2018 | 07:16 EDT
As previously reported, Morgan Stanley analyst Meta Marshall downgraded II-VI to Equal Weight from Overweight, noting that recent strength in the shares has put the stock's valuation at a premium to optical and in-line with industrial laser peers. However, longer-term, II-VI has differentiated processes and competitive positioning servicing the silicon carbide and EUV markets, Marshall tells investors. She maintains a $46 price target on the stock.
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