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Fly News Breaks for January 22, 2018
SANM
Jan 22, 2018 | 11:49 EDT
Craig-Hallum analyst Christian Schwab lowered his price target for Sanmina shares to $37 citing this morning's lower than expected Q1 results and Q2 guidance. The analyst views the results as "disappointing," but keeps a Buy rating on the shares with the stock down 25% in morning trading. Schwab expects to see a "material recovery" in gross margins at "some point" as Sanmina works through engineering changes to new programs that are impacting yields.
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