Dasan Zhone eyes worst day in 8 months on Q3 rev forecast cut

DZS

08/10/2019 18:02

** Shares of telecom equipment maker  DZSI.N  fall 17.7% to
$7.91 in afternoon trading; set for worst day in over 7 months
    ** Cuts Q3 rev forecast to $70 mln-$72 mln from $88 mln-$94
mln  urn:newsml:reuters.com:*:nNDL9W9JKK
    ** Craig Hallum, which cut PT by $2 to $16, says co is
experiencing softening demand across its diverse customer base,
primarily in the Middle East, as well as potential impacts from
customers M&A integration activities
    ** Northland Capital, which cut PT to $15.5 from $20, says
co's guided Q3 rev is down 1% Y/Y despite the inclusion of
revenue from the KeyMile acquisition 
    ** Earlier this year, co completed KeyMile acquisition to
expands its global footprint  urn:newsml:reuters.com:*:nGNX8hPpFG 
    ** Co's average rating is "buy"; median PT is $16
    ** Including session's losses, shares had fallen 42.88% YTD
vs 7.33% increase in the NASDAQ Telecomminucation Index  .IXUT 

 (Reporting by Amal S in Bengaluru)
 ((Amal.S@thomsonreuters.com; within U.S.+1 646 223 8780;
outside U.S. +91 80 6749 0536;))