UPDATE: Raymond James Upgrades NeoPhotonics (NPTN) to Market Perform
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Raymond James analyst Simon Leopold upgraded NeoPhotonics (NYSE: NPTN) from Underperform to Market Perform.
The analyst commented, "We take our rating to Market Perform from Underperform. We built a model for the emerging ZR transceiver market that led us to increase our NeoPhotonics revenue and earnings estimates. We expect NeoPhotonics takes a small portion of the ZR transceiver market, but a majority share of lasers, which helps profitability. Although we cannot rule it out, we do not envision NeoPhotonics as an acquisition target, so we do not ascribe to the most bullish arguments. With the company just turning profitable in 2022, we look to the EV/Sales near 1x as fairly valued."
Shares of NeoPhotonics closed at $9.39 yesterday.
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