Fabrinet (FN): Cheap Way To Play ROADM Demand - Needham
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Needham & Company analyst, Alex Henderson reiterated his Buy rating on shares of Fabrinet (NYSE: FN) and raised his price target to $56.00 (from $54.00) ahead of earnings.
The analyst expects FN to deliver 30-40% growth in CY17 and CY18 with gradually expanding GMs and Operating Margins. He sees FN as an inexpensive way to participate in the strong growth at ACIA, which is ramping production at FN as well as a great way to participate in the surge in ROADM demand as LITE's ROADMs are manufactured there.
Shares of Fabrinet closed at $37.80 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
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