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Fly News Breaks for November 2, 2016
RDWR
Nov 2, 2016 | 07:25 EDT
DA Davidson analyst Mark Kelleher downgraded Radware to Neutral and lowered its price target to $13 from $15. The company indicated the transition to cloud revenue continues to be a headwind near-term and came up short on its guidance for the September quarter, the analyst wrote. Kelleher expects cloud transition headwinds to persist for several more quarters and does not expect a return to top-line growth until the back half of fiscal 2017.
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