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Fly News Breaks for March 16, 2018
T, SYNC
Mar 16, 2018 | 07:47 EDT
As previously reported, Canaccord analyst Michael Graham downgraded Synacor (SYNC) to Hold from Buy following Q4 results. The analyst said the AT&T (T) revenue contribution was higher than expected, but the portal and advertising business ex-AT&T declined. He said the AT&T portal monetization is also being pushed out further as engagement remains a top priority. Graham said he sees limited downside at current levels, but the overall lower visibility leads to the downgrade. He lowered his price target to $3 from $6 on Synacor shares.
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