NeoPhotonics (NPTN): Buy Ahead Of Earnings - Needham

Needham & Company analyst, Alex Henderson, reiterated his Strong Buy on NeoPhotonics (NYSE: NPTN) and raised the price target to $24 from $22 ahead of the CY3Q print scheduled for Nov 3. The analyst expects a strong beat and raise quarter driven by new capacity on iTLA coherent lasers and strong growth in both coherent receivers and 25G lasers.

The analyst stated "We think the Optical stocks are likely to regain the lost momentum on the OCLR and NPTN prints as well as from our Nov 2 conference".

For an analyst ratings summary and ratings history on NeoPhotonics click here. For more ratings news on NeoPhotonics click here.

Shares of NeoPhotonics closed at $13.91 yesterday.

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