Infinera (INFN) Gains After Previewing 'Next Big Thing'
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Rating Summary:
15 Buy, 9 Hold, 1 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 11
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Infinera Corp. (NASDAQ: INFN) is gaining sharply Thursday (+5.4%) following positive commentary from MKM Partners analyst Michael Genovese following day 2 of the Optical Fiber Conference.
Genovese noted Infinera previewed the next next big thing via new PIC introductions. "Infinera discussed its two new Photonic Integrated Circuits (PICs) that are optimized for 100G Metro applications," he notes. "PICs are the source of the company's competitive advantage in long haul, and we expect the new more flexible and granular PICs to form the basis of a compelling Metro 100G aggregation/Telecom product later this year. We are highly impressed with Infinera's technology vision and view the company as one of only 2-3 providers of a full Optical Transport Layer including Switching. The company believes there are now two main layers in networks, which are Layer T or Transport and Layer C or Cloud. We expect Infinera's addressable market to expand from about $5bn in 2014 to roughly $20bn by 2018 as it competes in end-to-end Optical Transport including Metro and DCI and also addresses some functionality previously occupied by Routers as traffic forwarding intelligence moves down to Layer T from Layer C in the new networking model."
The firm maintained an Overweight rating and $23.50 price target on INFN.
Elsewhere in the sector, the analyst notes Finisar (NASDAQ: FNSR) seems like it wants to buy Lumentum.
For an analyst ratings summary and ratings history on Infinera Corp. click here. For more ratings news on Infinera Corp. click here.
Shares of Infinera Corp. closed at $17.80 yesterday.
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