Fabrinet (FN): Cheap Way To Play ROADM Demand - Needham

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.

For an analyst ratings summary and ratings history on Fabrinet click here. For more ratings news on Fabrinet click here.

Shares of Fabrinet closed at $37.80 yesterday.

You May Also Be Interested In

• EQT Corp. (EQT) PT Lowered to $46 at Wolfe Research
• TD Cowen Reiterates Buy Rating on Seagate Technology (STX)
• Boston Scientific (BSX) PT Raised to $80 at BTIG