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Fly News Breaks for October 17, 2018
RVLT
Oct 17, 2018 | 14:43 EDT
Roth Capital analyst Craig Irwin lowered his estimates for Revolution Lighting after the company preannounced weak Q3 results and cut its full-year guidance, adding that the company's outlook is weighed down by its "imminent" financing needs. Chairman Robert LaPenta has offered to take the company private at $2.00 per share and seeing as how he expects the offer to "remain firm," Irwin lowered his price target on Revolution shares to $2 from $5. He keeps a Buy rating on the stock, which is down $1.01, or 39.5%, to $1.55 in afternoon trading.
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