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Fly News Breaks for April 25, 2019
Apr 25, 2019 | 08:43 EDT
Jefferies analyst Mark Lipacis last night downgraded Macom to Hold from Buy and lowered his price target for the shares to $15 from $18. Following the negative preannouncement, the stock will "mark-time" until the company addresses three issues with investors: cash flow, forecasting, and stewardship of shareholder cash, Lipacis tells investors in a research note. Further, the analyst thinks this will be difficult to do without a permanent CFO. Nevertheless, Macom fits the profile of attractive acquisition candidates, which likely creates some downside share support, says Lipacis.
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