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Fly News Breaks for December 17, 2019
WIFI
Dec 17, 2019 | 07:49 EDT
Oppenheimer analyst Timothy Horan lowered his price target for Boingo Wireless to $15 from $23 after the company announced a 16% workforce reduction, or 80 positions, in its legacy Wi-Fi businesses, which is down to 10% of revenues. While the analyst does see 5G and large Multi Family Contracts as short-term catalysts, but believes revenues from carriers may decline long-term. He maintains an Outperform rating on the shares.
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