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Fly News Breaks for November 9, 2018
SWIR
Nov 9, 2018 | 05:02 EDT
First Analysis analyst Howard Smith downgraded Sierra Wireless to Outperform and lowered his price target for the shares to $25 from $31. The analyst says that while Sierra's "solid" position in the growing Internet of Things market and prospects for better margins long term will reward shareholders, he's feeling "less certain about near-term progress toward its goals amid near-term pressures on revenue and margin." The company's guidance for Q4 was below expectations even when backing out tariff impacts on the bottom line, Smith tells investors in a post-earnings research note.
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