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Fly News Breaks for November 15, 2019
SMTC
Nov 15, 2019 | 09:26 EDT
BWS Financial analyst Hamed Khorsand downgraded d to Neutral from Buy with a price target of $50, down from $70. The company's end-markets "continue to exhibit softness" as data center operators are not spending as much as expected, industrial customers are holding off on new equipment, and consumers are selective on their smartphone upgrades, Khorsand tells investors in a research note. He believes "one more disappointing quarterly earnings report could be more than what the stock could bear."
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