NeoPhotonics (NPTN): Buy Ahead Of Earnings - Needham
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Needham & Company analyst, Alex Henderson, reiterated his Strong Buy on NeoPhotonics (NYSE: NPTN) and raised the price target to $24 from $22 ahead of the CY3Q print scheduled for Nov 3. The analyst expects a strong beat and raise quarter driven by new capacity on iTLA coherent lasers and strong growth in both coherent receivers and 25G lasers.
The analyst stated "We think the Optical stocks are likely to regain the lost momentum on the OCLR and NPTN prints as well as from our Nov 2 conference".
Shares of NeoPhotonics closed at $13.91 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
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