Piper Jaffray Reiterates Overweight on NeoPhotonics (NPTN) Following Optical Event
Get Alerts NPTN Hot Sheet
Rating Summary:
3 Buy, 11 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 17 | Down: 14 | New: 17
Join SI Premium – FREE
Piper Jaffray reiterated an Overweight rating and $17.00 price target on NeoPhotonics (NYSE: NPTN) following the company's presentation at an Optical Event last week. Piper Jaffray believes that Neo has relatively solid visibility into China demand. NPTN's management has remained confident with respect to sustained strength and believes “China will be lumpy on an upward slope”.
Analyst Troy Jensen commented, "NeoPhotonics presented at our Optical Event last week and the tone from management remained extremely positive. We believe Neo has relatively solid visibility into China demand given the second round of tenders announced (~30K 100G ports, plus ~60K ports for the third wave in 2017), coupled with the company’s high exposure to Hauwei. Given Neo’s leadership in 100G exposure (66% of total sales) and the sustained growth we are expecting for 100G, we are reiterating our Overweight rating and $17 price target on NPTN shares."
For an analyst ratings summary and ratings history on NeoPhotonics click here. For more ratings news on NeoPhotonics click here.
Shares of NeoPhotonics closed at $15.68 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Cleveland Research Upgrades Dynatrace Inc. (DT) to Buy, 'optimism underlying fundamentals are likely to support upside'
- Wells Fargo Reiterates Overweight Rating on Micron Technology (MU)
- Barclays Reiterates Equalweight Rating on Crown Castle (CCI)
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
Piper Jaffray, Troy JensenSign 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!