Jefferies Downgrades Finisar (FNSR) to Hold
Get Alerts FNSR Hot Sheet
Rating Summary:
6 Buy, 15 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
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Jefferies downgraded Finisar (NASDAQ: FNSR) from Buy to Hold with a price target of $19.00 (from $25.00).
Analyst James Kisner highlighted checks suggesting: 1) a “brutal” pricing environment for datacom optics, particularly in China, as well as in Telecom in N. America; 2) worse than expected share for FNSR in 100G Datacom; 3) an inventory correction in China; 4) vertical integration risks from Huawei and Cisco; 5) Looming potential price pressure/share loss from numerous start-ups and potentially Intel as the market transitions to 100G.
The firm cut FY 204 EPS from $1.34 to $1.31 and FY 2015 EPS from $1.77 to $1.61.
For an analyst ratings summary and ratings history on Finisar click here. For more ratings news on Finisar click here.
Shares of Finisar closed at $20.31 yesterday.
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