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Fly News Breaks for August 3, 2018
ARLO, NTGR
Aug 3, 2018 | 09:13 EDT
BWS Financial analyst Hamed Khorsand says the pricing of Arlo Technologies' (ARLO) initial public offering establishes a valuation case for Netgear (NTGR). The analyst believes the IPO pricing gives some context to what Netgear's stake is worth and affirms his sum-of-parts reasoning for owning the shares. Spinning off Arlo is a value creating event, but Netgear's stock continues to trade at a discount, Khorsand tells investors in a research note. He keeps a Buy rating on the stock with a $64.50 price target.
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