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Fly News Breaks for March 8, 2017
ZTCOY, OCLR
Mar 8, 2017 | 09:37 EDT
Craig-Hallum analyst Richard Shannon notes that Oclaro (OCLR) top customer ZTE (ZTCOY) has settled with the U.S. and has agreed to a $1.2B fine. The analyst believes this eliminates the overhang on Oclaro's stock that has been there for the past year. The remaining issue with most investors is potential China inventory, which he believes is overblown. Shannon reiterates a Buy rating on Oclaro's shares.
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