Finisar (FNSR) Seen As Key Beneficiary of Telecom Capex Race

December 19, 2012 12:58 PM EST
Get Alerts FNSR Hot Sheet
Price: $30.00 -2.88%

Rating Summary:
    15 Buy, 6 Hold, 0 Sell

Rating Trend: = Flat

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    Up: 30 | Down: 30 | New: 23
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Analysts at MKM Partners think optical communications company, Finisar (NASDAQ: FNSR), is poised to benefit from a potential telecom capex race.

"We view FNSR as a key beneficiary of the capex recovery," said analyst Michael Genovese.

"The U.S. telecom services market is becoming more competitive with significant infusions of overseas capital into Sprint (NYSE: S) and T-Mobile. This has the potential to spark something of a capex race, and we have already seen positive spending announcements from AT&T (NYSE: T), Sprint, CenturyLink (NYSE: CTL) and Deutsche Telkom. China Mobile (NYSE: CHL) has also made positive comments about its 2013 100G optical investment plans," added Genovese.

MKM maintained a Buy rating on Finisar (NASDAQ: FNSR) and raised its price target to $17.50 (from $16.00).

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

Shares of Finisar closed at $15.59 yesterday.

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