Cray Awarded Contract to Install Cray CS400 Cluster Supercomputer at Argonne National Laboratory

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Cray (CRAY) PT Lowered to $23 at Needham & Company; Reiterates Buy

May 3, 2017 8:13 AM EDT

Needham & Company lowered its price target on Cray (NASDAQ: CRAY) to $23.00 (from $25.00) while maintaining a Buy rating. CRAY posted 1Q results of $59M, above consensus revenue of $55.4M, vs. guidance for $55M. EPS of ($0.71) came in below the consensus EPS of ($0.53).

For 2Q,... More