Needham & Company Maintains Buy on Finisar (FNSR) After Spending Time with Management

Needham & Company maintained a Buy rating and $25.00 price target on Finisar (NASDAQ: FNSR) after spending time with management. Analyst Alex Henderson thinks investors overreacted to FNSR comments on the most recent call.

Henderson commented, "We think investors overreacted to FNSR comments on the most recent call. After spending the day with CEO Eitan Gertel in London on an NDR, we are convinced that the fundamentals for FNSR remain strong and that the trajectory of results should gradually improve through CY15 and sharply improve in CY16/CY17. We reiterate our Buy rating and expect to get consistently more constructive as the year progresses. We believe sentiment, margins and valuation on FNSR are at a nadir and should see gradual and then accelerating improvement through year-end and throughout CY16."

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 $17.57 yesterday.

You May Also Be Interested In

• Needham Upgrades Silicon Labs (SLAB) to Buy
• Jet2 plc (JET2:LN) (DRTGF) PT Raised to GBP20 at RBC Capital
• Teledyne (TDY) PT Lowered to $455 at Needham