Finisar (FNSR): Marketing Trip Thoughts - Piper Jaffray
Piper Jaffray analyst, Troy Jensen, reiterated his Overweight rating on shares of Finisar (NASDAQ: FNSR) after hosting a marketing trip with with Kurt Adzema, CFO.
The analyst stated "we believe the optical group will likely experience accelerating growth in 2018 and believe Finisar has some company specific catalysts to help accelerate growth. We believe China demand will improve by yearend and into 2018 with inventory levels being reduced and new China tenders helping grow demand. We also believe FNSR will see VCSEL sales start an impressive ramp in October, coupled with initial revenues for the CFP2-ACO qualification at Cisco in the January quarter followed by ROADM line cards in the April quarter".
No change to the price target of $26.
Shares of Finisar closed at $21.87 yesterday.