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Fly News Breaks for July 23, 2015
QLGC
Jul 23, 2015 | 06:29 EDT
Morgan Stanley downgraded QLogic Digital to Equal Weight and cut its view on the US IT Hardware Industry to Cautious from In-Line. The firm's June CIO survey indicates incremental enterprise IT budget weakness, and when combined with a downtick in cloud capex, results in a reduction in estimates and multiple compression. Morgan Stanley maintained its $14 price target on shares.
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