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Fly News Breaks for August 25, 2016
INFN
Aug 25, 2016 | 07:00 EDT
As reported previously, Citi analyst Stanley Kovler downgraded Infinera to Sell from Neutral, as he expects additional margin pressure from R&D spending and its "aggressive" pursuit of Metro deals translating into "yet another leg down" in the company's earnings. With limited visibility until the second half of next fiscal year, Kovler cut his price target on Infinera shares to $8 from $10.