Raymond James analyst Brian Gesuale lowered the firm’s price target on Mercury Systems to $40 from $55 and keeps an Outperform rating on the shares. Mercury’s failed strategic review didn’t yield an acquirer at a price palatable to the board, and while Raymond James continues to see value in the asset, it expects shares to trade lower and begin to form a bottom in the low ~$30 range, the analyst tells investors in a research note.
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Published first on TheFly
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