Infinera Corp. (INFN) PT Raised to $7 at MKM Partners, Remains Top Pick

MKM Partners analyst Michael Genovese raised the price target on Infinera Corp. (NASDAQ: INFN) to $7.00 (from $6.00) while maintaining a Buy rating.

The analyst comments "INFN has been our top stock pick since we upgraded the shares to Buy in March. We are reiterating our Buy rating because 1) We believe the company is seeing the strongest order trends in our coverage universe; 2) Management appears to be highly committed to delivering non-GAAP EPS profitability and positive FCF by 4Q19; 3) Infinera has a strong technology product roadmap including 200G, 600G, 800G platforms and XR pluggable Optics; and 4) Given the strong product roadmap, we think INFN could be an attractive acquisition target for an Optical components or Data Networking company looking to increase its exposure to coherent Optical technology."

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