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Fly News Breaks for May 2, 2016
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May 2, 2016 | 05:35 EDT
JPMorgan analyst Rod Hall downgraded Seagate Technology to Underweight saying the company's fundamentals continue to deteriorate following its "weak" Q3 results. The analyst believes the current dividend is unsustainable. Hall sees structural weakness in end-market demand amid weak PC sales and he cut his price target for Seagate shares to $15 from $30.
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