Acacia Communications -1.3% on analyst downgrade due to ZTE ban [Seeking Alpha]
ACACIA COMMUNICATIONS (ACIA)
Last acacia communications earnings: 2/18 04:01 pm
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US:NASDAQ Investor Relations:
ir.acacia-inc.com/investor-overview
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Source: Seeking Alpha
Acacia Communications -1.3% on analyst downgrade due to ZTE banBank of America Merrill Lynch downgrades Acacia Communications (NASDAQ:ACIA) from Neutral to Buy and drops the price target from $46 to $28.Analyst Tal Liani says there might be a 30% or higher downside to revenue estimates after the new U.S. ban on exports to ZTE.BofAML’s previous Buy thesis was based on a ZTE/China-based rebound this year.Analyst says shares might “trade sideways” until investors have clarity.Source: Bloomberg First Word.Acacia Communications shares aredown 1.3% premarket to $25.30.See all stocks on the move »Now read:Cisco Systems Raises Dividend 14% - Now What? »
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