Casa Systems: Hits record low after posting surprise Q1 loss
02/05/2019 17:46
** Shares of cloud-based software provider CASA.O plunge
as much as 20.9% to hit a record low of $7.55 after reporting
surprise Q1 loss and revenue miss
** At least 2 brokerages lower PTs on stock; current median
PT $10.50 vs $12.50 a month ago urn:newsml:reuters.com:*:nGNX7THYW4
** Stifel says weak industry spending in cable
infrastructure market led to Q1 miss, and brokerage does not
expect meaningful recovery in cable business in 2019
** Current avg rating on stock is "hold"
** Stock has lost 37% of its value this year
(Reporting by Amy Caren Daniel in Bengaluru)
((Reuters Messaging:
Amy.CarenDaniel.thomsonreuters.com@reuters.net))
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