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Fly News Breaks for July 1, 2016
MXIM
Jul 1, 2016 | 08:27 EDT
RBC Capital lowered its estimates on Maxim to reflect its forecast of reduced demand for the company's automotive products and its expectation of reduced enterprise IT spending. The firm says that a large percentage of the company's automotive revenue is based on sales of luxury cars made by European manufacturers. RBC cut its price target o nthe shares to $40 from $42 but it keeps an Outperform rating on the shares.
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