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Fly News Breaks for June 12, 2017
KMG
Jun 12, 2017 | 08:34 EDT
Seaport Global analyst Michael Hanson says that KMG reported "solid" Q3 results. He is upbeat on the company's outlook in the wake of the results. Hanson thinks that the weakness of the stock was caused by the company's decision not to raise its guidance, and he blames that decision on uncertainty around the exact timing of the Flowchem deal close. Hanson says the company's statement that fiscal 2017 revenue guidance would be at the high end of the $51M-$55M range excluding the Flowchem deal is positive. The analyst keeps a $62 price target and a Buy rating on the shares.
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