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Fly News Breaks for August 21, 2019
SCSC
Aug 21, 2019 | 06:34 EDT
Raymond James analyst Adam Tindle lowered his price target on Scansource to $36, saying that despite the earnings beat, the company's Q4 results saw some downside relative to expectations in key metrics. The analyst points to lower than expected organic revenue growth in the Barcode, Networking & Security segment, adding that the lowered price target also reflects greater uncertainty around the company's potential asset divestitures. Tindle still keeps his Outperform rating on Scansource, stating that the stock already trades 10% below book value.
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