Fabrinet (FN) PT Raised to $260 at Rosenblatt

Rosenblatt analyst Mike Genovese raised the price target on Fabrinet (NYSE: FN) to $260.00 (from $230.00) while maintaining a Buy rating.

The analyst commented: "Fabrinet's positive performance was again led by its 800G VCSEL-based AOC and transceiver business with Nvidia. FN makes Nvidia-branded products. The company is the best positioned maker of VCSEL-based AOCs since these products are primarily used for GPU interconnection. We think the results and conference call should lessen investor concerns about Fabrinet relative to market growth, competition, and potential substitution by copper, which does not look to be an actual issue for the Optical companies. We are increasing estimates, and raising our FN price target to $260 from $240."

You May Also Be Interested In

• Halozyme Therapeutics (HALO) PT Raised to $93 at Citizens on Royalty Revenue Growth
• Evercore ISI Downgrades The Trade Desk (TTD) to In Line
• Roundhill Investments Launches First-Ever Neocloud ETF (NCLD) and Photonics & Optics ETF (LYTE)