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Fly News Breaks for November 13, 2019
Nov 13, 2019 | 08:30 EDT
Deutsche Bank analyst Sidney Ho lowered his price target for II-VI to $40 from $48 after the company reported results below his estimates. II-VI is facing "multiple headwinds" including geopolitical volatility, weakening industrial market and supply shortages, which lead to a disappointing short-term outlook, Ho tells investors in a research note. However, looking past the next quarter, the analyst continues to like II-VI's position in "multiple secular growth trends," including 5G, 3D sensing and the adoption of SiC. He keeps a Buy rating on the shares.
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