Finisar (FNSR): Great Quarter But Will It Last? - Jefferies
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Jefferies analyst, James Kisner, reiterated his Hold rating on shares of Finisar (NASDAQ: FNSR) after a big 1Q beat. Telecom drove the strength but excluding Wireless, Datacom also grew Q/Q driven by 100G. Gross margin was particularly strong.
The analyst believes Finisar is likely to continue to benefit from strong trends in both Datacom and Optical components over the next couple quarters, but he wants greater confidence that the good times will be more enduring before raising his rating from Hold.
The price target increases to $28 from $19.
Shares of Finisar closed at $23.23 yesterday.
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