UPDATE: Piper Sandler Reinstates NeoPhotonics (NPTN) at Neutral

Piper Sandler analyst Harsh Kumar reinstates coverage on NeoPhotonics (NYSE: NPTN) with a Neutral rating and a price target of $13.00.

The analyst comments "Following the run-up in the stock over the past two months, we would prefer to see a few quarters of strong execution before getting more constructive at these levels, particularly as the company navigates the market in a post-Huawei environment. Over the long-term, we see the rise of 400G + across the telecom and datacom landscapes driving well over $1 billion in TAM for the company. In addition, we believe the data center opportunity can be significant for NeoPhotonics, particularly given the company’s position in lasers. However, despite the longer-term dynamics, we prefer to wait for a better entry point."

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

Shares of NeoPhotonics closed at $12.37 yesterday.

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