Oclaro (OCLR): Needham Raises PT After Company Visit
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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.
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