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Needham & Company Upgrades Oclaro (OCLR) to Strong Buy

July 25, 2016 6:12 AM EDT
Get Alerts OCLR Hot Sheet
Price: $8.26 --0%

Rating Summary:
    7 Buy, 12 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 8 | Down: 2 | New: 35
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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.



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