Oclaro (OCLR): Buy Ahead Of The Quarter - Needham

Needham & Company analyst, Alex Henderson, stepped up to the plate and reiterated his Strong Buy rating on shares of Oclaro (NASDAQ: OCLR) and raised the price target to $11 from $10 indicating confidence in a beat and raise quarter despite the recent volatility in optical networking.

CY3Q earnings are expected on November 1st and with 100G representing 64% of revenues, he is expecting more strong top line results. 100G/100G+ products grew 133.7% last quarter, accelerating from 94% growth in the prior quarter.

The analyst stated "We think OCLR could be more than a double—our PT represents 50%+ appreciation, and we think this is still conservative."

For an analyst ratings summary and ratings history on Oclaro click here. For more ratings news on Oclaro click here.

Shares of Oclaro closed at $7.33 yesterday.

You May Also Be Interested In

• Tesla touts acceleration of new models, but Q1 results fall short of estimates
• Spotify (SPOT) PT Raised to $345 at Macquarie
• Needham Assumes Infinera Corp. (INFN) at Buy