Finisar (FNSR): Needham Raises EPS 42% For '17
- Wall St. lower as earnings from some big names disappoint
- Unusual 11 Mid-Day Movers 10/25: (CWEI) (NXTD) (EYES) Higher; (DPRX) (CRBP) (CALA) Lower (more...)
- General Motors (GM) Tops Q3 EPS by 28c
- Procter & Gamble (PG) Tops Q1 EPS by 5c
- DuPont (DD) Tops Q3 EPS by 14c; Boosts FY16 EPS Outlook; Says Continuing to Work with Regulators
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.
Needham & Company analyst, Alex Henderson, reiterated his Buy rating on shares of Finisar (NASDAQ: FNSR) and raised the price target to $32 from $28 after Finisar's stars aligned with the Super Cycle in the July Q and October guide. CY17 EPS goes to $1.86 from $1.31 and he introduced a CY18 revenue estimate of $1,753MM and EPS of $2.13.
The slower ramp in 25G/100G due to the lack of NIC cards from Intel has bought Finisar time to ramp its sold-out 100G Data Comm products while the 10G/40G holds in. This is driving better than expected volume and a positive mix shift which is driving up GMs ~300 BPs ahead of forecast in the just posted quarter and guide. The guide for Operating Margins of 14.3-15.3% is as a result 300-400 BPs above forecast and trend suggests further improvement.
Shares of Finisar closed at $23.23 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Needham & Company Cuts Price Target on Electronics for Imaging (EFII) Following Solid 3Q
- UBS Raises Price Target on Greenhill & Co. (GHL) to $17; Reiterates Sell
- UBS Cuts Price Target on V.F. Corp. (VFC) to $59; Reiterates Buy
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Earnings
Related EntitiesNeedham & Company
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!