Auriga Downgrades Finisar Corp. (FNSR) to Hold; Locking in Our Gains
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Price: $14.35 -0.62%
Rating Summary:
9 Buy, 5 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 21
Rating Summary:
9 Buy, 5 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 21
Trade FNSR Now!
Auriga downgrades Finisar Corp. (Nasdaq: FNSR) from Buy to Hold. PT lowered from $19 to $16.
Auriga analyst says, "Every industry check we have done over the past three months suggests that FNSR continues to see strength across all of its product lines, but especially in the area of 50GHz ROADMs. As such, we expect the company to report strong results for F1Q11 (which ended this past July). However, tech bellwether, Cisco Systems (Nasdaq: CSCO)(Not Rated) gave mixed macro commentary after the close last night. We note that CSCO is FNSR's largest customer, with over 10% of revenue. In addition to this risk, we believe other macro risks, especially in Europe, which for a while appeared to be fading, now suddenly have become elevated."
To see all the upgrades/downgrades on shares of FNSR, visit our Analyst Ratings page.
Finisar Corporation (Finisar) is a provider of optical subsystems and components that connect short-distance local area networks (LANs), and storage area networks (SANs), and longer distance metropolitan area networks (MANs) fiber-to-the-home networks (FTTx), cable television networks (CATV) and wide area networks (WANs).
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Auriga analyst says, "Every industry check we have done over the past three months suggests that FNSR continues to see strength across all of its product lines, but especially in the area of 50GHz ROADMs. As such, we expect the company to report strong results for F1Q11 (which ended this past July). However, tech bellwether, Cisco Systems (Nasdaq: CSCO)(Not Rated) gave mixed macro commentary after the close last night. We note that CSCO is FNSR's largest customer, with over 10% of revenue. In addition to this risk, we believe other macro risks, especially in Europe, which for a while appeared to be fading, now suddenly have become elevated."
To see all the upgrades/downgrades on shares of FNSR, visit our Analyst Ratings page.
Finisar Corporation (Finisar) is a provider of optical subsystems and components that connect short-distance local area networks (LANs), and storage area networks (SANs), and longer distance metropolitan area networks (MANs) fiber-to-the-home networks (FTTx), cable television networks (CATV) and wide area networks (WANs).
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