Needham & Company Raises Price Target on Finisar (FNSR) Following NDR

September 19, 2016 6:54 AM EDT
Get Alerts FNSR Hot Sheet
Price: $28.93 -1.77%

Rating Summary:
    15 Buy, 6 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 35 | Down: 31 | New: 9
Trade FNSR Now!
Join SI Premium – FREE

News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.

Needham & Company reiterated a Buy rating on Finisar (NASDAQ: FNSR), and raised the price target to $36.00 (from $32.00), following an NDR with management. FNSR expects improving GMs as volume growth and relatively stable pricing are leveraged by improving mix.

Analyst Alex Henderson commented, "Our NDR with CEO Jerry Rawls offers a lot of insight into conditions, the status of the "Super Cycle" and the potential for upside to Finisar numbers. Of particular interest: 1) Rawls thinks the China market is ready to start deploying ROADMs, 2) the ROADM line card line is not in the forecast and is ready to ramp, 3) Rawls thinks Finisar can grow 20-30% in CY17 and CY18, and 4) FNSR thinks China growth will accelerate in CY17 and accelerate again in CY18. Finisar expects accelerating Revenue growth expanding GMs and OPEX leverage. We increase our PT to $36 (from $32) and reiterate our Buy rating."

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 $28.20 yesterday.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst EPS Change, Analyst PT Change

Related Entities

Needham & Company

Add Your Comment