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Fly News Breaks for April 17, 2019
TECD
Apr 17, 2019 | 06:12 EDT
Stifel analyst Matthew Sheerin downgraded Tech Data to Hold from Buy with an unchanged price target of $105. After rallying 34% year-to-date, the shares now appear fairly valued, Sheerin tells investors in a research note. The analyst notes the stock currently trades at nine-times forward earnings while IT spending growth is expected to slow next year.
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