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Fly News Breaks for March 9, 2018
TECD
Mar 9, 2018 | 08:53 EDT
Stifel analyst Matthew Sheerin noted Tech Data shares are down 20% since the company's Q1 EPS guidance came in well below the consensus view and the company also lowered its FY19 operating profit growth expectations. While he clearly acknowledges a credibility issue after the company's second guidance miss in three quarters, he also sees the "reset" as a buying opportunity as he expects a rebound in the second half. Sheerin lowered his price target on Tech Data to $110 from $120, though he keeps a Buy rating on the shares.
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