Needham & Company Upgrades Oclaro (OCLR) to Strong Buy
Get Alerts OCLR Hot Sheet
Rating Summary:
7 Buy, 12 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 2 | New: 35
Join SI Premium – FREE
Needham & Company upgraded Oclaro (NASDAQ: OCLR) from Buy to Strong Buy with a price target of $7.50 (from $7.00).
Analyst Alex Henderson commented, "We think the strong demand out of China leveraging the upcoming Metro Core and Data Comm cycles should help OCLR deliver robust growth, sharply expanding GMs and leverage OPEX. Strong revenue growth and margin leverage should drive higher valuations. Upward revisions are highly probable providing even more upside. Accordingly, we are upgrading OCLR to Strong Buy and raising our target price to $7.50 (from $7.00)."
For an analyst ratings summary and ratings history on Oclaro click here. For more ratings news on Oclaro click here.
Shares of Oclaro closed at $5.23 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- JPMorgan Upgrades Mersana (MRSN) to Neutral, 'thinking through Expectations for Midyear B7-H4 Updates'
- Guggenheim Starts Telus International (TIXT) at Neutral
- RBC Capital Upgrades Airbus SE (AIR:FP) (EADSY) to Outperform
Create E-mail Alert Related Categories
Analyst Comments, Analyst PT Change, Hot Upgrades, UpgradesRelated Entities
Needham & CompanySign 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!