Needham & Company Upgrades Finisar (FNSR) to Strong Buy; Expect a Beat and Raise
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Needham & Company upgraded Finisar (NASDAQ: FNSR) from Buy to Strong Buy with a price target of $42.00 (from $38).
Analyst Alex Henderson commented, "Finisar is set to report after the close on December 8. We expect a strong "beat and raise" quarter. Strong demand for 10G/40G from Web 2.0 and sharply ramping 100G products should combine to deliver upside in the quarter and guide. ROADMs are also ramping strongly Q-Q. In anticipation of the upside in the quarter and strong results for CY17 and CY18, we upgrade FNSR to Strong Buy from Buy and increase our price target to $42 from $38. We are buyers into the print."
Shares of Finisar closed at $32.76 yesterday.
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