Infinera (INFN): Fixable and Oversold - Needham
- Healthcare, tech stocks drive Wall Street higher
- Twitter (TWTR) Tops Q3 EPS by 4c; Announces Restructuring, Workforce Reduction
- Qualcomm (QCOM) to Acquire NXP Semi (NXPI) in $47B Deal
- Tesla (TSLA) Posts Q3 adj.-EPS of 71c
- Pre-Open Stock Movers 10/27: (PRQR) (OCN) (TWTR) Higher; (CYH) (GNC) (RNWK) Lower (more...)
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
Needham & Company analyst, Alex Henderson, reiterated his Strong Buy rating on shares of Infinera Corp. (NASDAQ: INFN) after CEO Tom Fallon stated he had made some tactical errors and is determined to fix them and right the ship.
The analyst cut estimates to reflect a deeper and more aggressive pricing strategy as INFN aggressively adapts to a "land grab" environment. The timing of the new products, new PIC and new DSP are exacerbating the current conditions. INFN is tactically choosing to price to gain share until these new capabilities are brought to bear. The analyst thinks this will be a 12-18 month turnaround, but also that INFN is oversold. No change to the price target of $15.
Shares of Infinera Corp. closed at $9.04 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Needham & Company Raises Price Target on AXT, Inc. (AXTI) Following 3Q Beat and Guidance
- Drexel Hamilton Raises Price Target on VMware (VMW) Following 3Q
- Needham & Company Starts AMAG Pharmaceuticals (AMAG) at Buy
Create E-mail Alert Related CategoriesAnalyst Comments
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!