UPDATE: Stifel Resumes Infinera Corp. (INFN) at Hold
- Wall Street dips on Trump protectionism, Qualcomm drag
- Yahoo! (YHOO) Tops Q4 EPS by 4c; Sees Verizon Deal Closing in Q2, Not Q1
- Aetna's (AET) Humana (HUM) Takeover Blocked by Judge as Anticompetative
- Trump signs order withdrawing U.S. from Trans-Pacific trade deal
- After-Hours Stock Movers 1/23: (REXX) (MRCY) (SYNC) Higher; (FSM) (OCUL) (CASC) Lower (more...)
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
(Updated - September 30, 2016 10:14 AM EDT)
Stifel resumed coverage on Infinera Corp. (NASDAQ: INFN) with a Hold rating and a price target of $9. Analyst Patrick M. Newton sees execution risk and subscale exposure to growth markets.
"Although expectations have been reset and valuation (EV/Sales) is bouncing around historical trough levels, we resume coverage with a Hold rating. We see meaningful opportunity for Infinera in the DCI and metro markets, but the company still remains largely tied to the long-haul market (~75% of revenue by our estimate) where we anticipate muted growth in the near-to-intermediate term. While we expect shipment of the company’s Infinite Capacity Engine will help the company regain its competitive leadership position in many markets, we do not expect shipments to accelerate until 2H17 with significant execution risk over the next 2-4 quarters," said Newton.
Shares of Infinera Corp. closed at $9.10 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Procter & Gamble (PG) PT Raised to $96 at UBS Following 2Q Report
- FBR Capital Starts Colony NorthStar (CLNS) at Outperform, Adds to FBR Alpha Generator List
- Qualcomm (QCOM) Defended at Stifel, Should Be Bought on Weakness - Bloomberg
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View, New Coverage
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!