Needham & Company Reiterates Strong Buy After Meeting with NeoPhotonics (NPTN)
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Needham & Company reiterated a Strong Buy rating and $20.00 price target on NeoPhotonics (NYSE: NPTN) after meeting with the company. The Company is also holding an analyst day on September 8th.
Analyst Alex Henderson commented, "We think Neo is exceptionally well positioned for strong results over the next 3-4 quarters as capacity adds and new products combine to drive sharply accelerating revenue growth and sharply expanding margins. We expect that our estimates and target price will likely prove conservative as the next several quarters unfold. We aggressively recommend investors Buy NPTN shares, we reiterate our Strong Buy and likely overly conservative $20 price target. We would buy these shares before the analyst day."
Shares of NeoPhotonics closed at $15.68 yesterday.
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