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Northland sees ‘mixed’ trading in Richardson Electronics after earnings

Northland says Richardson Electronics (RELL) reported a headline beat in Q1, but “not on high quality” as GES sales, which it calls out as its own and investors’ “top focus” missed by 18% and profitability beats were mostly from other income. The firm, which thinks shares “trade mixed on this update,” has a Market Perform rating and $10 price target on Richardson shares.

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