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Fly News Breaks for May 24, 2019
PDVW
May 24, 2019 | 08:40 EDT
Craig-Hallum analyst George Sutton raised his price target for pdvWireless to $80 from $62 and maintained a Buy rating following the company's Analyst Day earlier this week. In a research note to investors, Sutton says he believes the company has made substantial progress so far on the newly announced business plan to lease spectrum licenses to utility companies on a long-term basis, as shown by the 40 on-going discussions with potential customers and notes that it would only have to sign 6-11 of the top 20 largest investor owned utilities to reach its FY24 revenue target of $125M-150M.
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