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Fly News Breaks for February 17, 2016
INTC, MLNX
Feb 17, 2016 | 07:13 EDT
Jefferies analyst James Kisner says his recent checks with industry contacts indicate Intel's (INTC) Omni-Path product presents "significant risks" to Mellanox's (MLNX) core InfiniBand business. Omni-Path is likely to be generally available by April, the analyst points out. He is not downgrading shares of Mellanox, however, citing the company's "not particularly expensive" valuation and potential near-term execution risk by Intel. Kisner lowered his price target for Mellanox shares to $42 from $45 and keeps a Hold rating on the name.
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