Jefferies Downgrades Finisar (FNSR) to Underperform; Slashes Price Target

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Jefferies downgraded Finisar (NASDAQ: FNSR) from Hold to Underperform with a price target of $7.50 (from $14.00).

The firm comments, "Our checks and a recent public announcement from Intel suggest that the ultimate commercialization of highly deflationary silicon photonics technology in the data center is likely no longer in doubt – bad news for manufacturers of "traditional" MSA-based, manually assembled optical transceivers for data centers such as Finisar."

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 $15.58 yesterday, with a 52 week range of $10.95-$23.50.

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