Fabrinet (FN) PT Raised to $285 at Rosenblatt

Rosenblatt analyst Mike Genovese raised the price target on Fabrinet (NYSE: FN) to $285.00 (from $280.00) while maintaining a Buy rating.

The analyst commented: "Fabrinet management told us they haven't seen any changes in customer order patterns since the recent DeepSeek release. We are optimistic that FN can re-gain some high speed Datacom share as 1.6T rolls out. 1.6T sales will be driven by Blackwell, and there is likely to be some level of re-bundling of compute and networking in Blackwell's early days. We would also point out that most of the Telecom growth FN is seeing is driven by DCI, including ZR, and DCI should be viewed as an AI market. We are increasing FN estimates and raising our price target to $285, still based on 25x FY26 EPS."

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