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Fly News Breaks for July 17, 2019
Jul 17, 2019 | 06:06 EDT
Piper Jaffray analyst Harsh Kumar upgraded Macom Technology to Overweight from Neutral and raised his price target for the shares to $21 from $14. The recent pullback "represents an excellent long-term opportunity," Kumar tells investors in a research note. The analyst believes Macom's new management team will focus on cash flow and profitability, along with restructuring the company's technology portfolio. Macom's cost cuts in place, data center coming back, and 5G remains an opportunity, says Kumar.
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