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Fly News Breaks for January 29, 2020
RFIL
Jan 29, 2020 | 08:54 EDT
B. Riley FBR analyst Josh Nichols initiated coverage of RF Industries with a Buy rating and $9 price target. The company, which provides customized solutions that are largely used to build out wireless communication infrastructure, has successfully repositioned its go-to-market strategy to leverage its growing sales distribution channels and manufacturer relationships, Nichols tells investors in a research note. With no analyst coverage, the analyst believes RF Industries has "flown under the radar" in part due to its small size, despite revenue growing from $23M in fiscal 2017 to $55M in fiscal 2019. He believes the company is well positioned for the emerging 5G buildout.
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