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Fly News Breaks for March 29, 2019
SGH
Mar 29, 2019 | 07:05 EDT
Barclays analyst Blayne Curtis lowered his price target for Smart Global Holdings to $25 from $38 after the company issued guidance "well below" expectations. Brazil customers are opting to wait until the second half to meet local content rules given the weakening pricing environment, Curtis tells investors in a research note. On the "brighter side," Penguin is on plan and Brazil should improve as customers fulfill the content requirements for the remainder of the year, says the analyst. He keeps am Overweight rating on Smart Global.
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