Oclaro (OCLR): Needham Raises PT After Company Visit
- Wall St. drops on bleak GE outlook; Microsoft blunts losses
- British American Tobacco Offers to Acquire Remaining Shares of Reynolds American (RAI) for $56.50/Share
- General Electric (GE) Tops Q3 EPS by 2c; Updates FY16 EPS Outlook
- Pre-Open Stock Movers 10/21: (ALKS) (RAI) (PFPT) (MSFT) Higher; (SGY) (TWLO) (RRGB) Lower (more...)
- Oil on track for first weekly loss in five weeks on strong dollar
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.
Needham & Company analyst, Alex Henderson, reiterated his Strong Buy rating on shares of Oclaro (NASDAQ: OCLR) and raised his price target to $10 from $8 after visiting with the company.
The analyst believes Oclaro is seeing strong and strengthening demand, rapid uptake and rapidly ramping capacity in the key ACO product line, and extending visibility with sharply rising margins. The analyst believes his estimates could be conservative as he expects Oclaro to continue to "beat and raise."
Shares of Oclaro closed at $7.71 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Needham & Company Reiterates Buy on Proofpoint (PFPT) Following Strong 3Q
- RBC Capital Raises Price Target on Danaher (DHR) Following 'Clean' 3Q Report
- PayPal (PYPL) PT Raised to $47 at Credit Suisse; Results Just 'Ok' But Visability Increases Conviction
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View, Management Comments
Related EntitiesNeedham & Company
Sign 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!