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Fly News Breaks for July 14, 2017
Jul 14, 2017 | 07:21 EDT
As previously reported, BofA/Merrill downgraded Avnet to Underperform from Neutral and cut its price target to $40 from $44. Analyst Param Singh said Avnet is still suffering from Enterprise Resource Planning implementation issues a year ago, has not benefited from recent shortages in passive components, and said it will take over a year to regain $1B in lost vendor revenue to a competitor.
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