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Fly News Breaks for August 5, 2019
Aug 5, 2019 | 06:34 EDT
JPMorgan analyst Paul Coster downgraded TTM Technologies (TTMI) to Neutral from Overweight with an unchanged $14 price target. While the shares traded on the "solid" Q2 report, the overall narrative seemed cautious, particularly relating to the company's auto, industrial, and IT hardware segments, Coster tells investors in a research note. TTM's "deep" integration into the Chinese supply-chain and its exposure to Huawei came back into focus following NetApp's (NTAP) negative preannouncement, which suggests enterprise data center investments may slow into Q3, says the analyst. Coster sees a lack of near-term share catalysts and "somewhat elevated risks" for TTM Technologies.
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