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JPMorgan initiates coverage on Phototronics (PLAB) with a Neutral rating and $6.50 price target,...

JPMorgan initiates coverage on Phototronics (PLAB) with a Neutral rating and $6.50 price target, offering  up a mixed review: "Although we believe the company is better positioned than it has been in years, we don't believe it is immune to weakness in its end markets or aggressive pricing by large competitors." Shares are down 9.2%.
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