UPDATE: Raymond James Upgrades NeoPhotonics (NPTN) to Market Perform

September 9, 2021 3:15 AM EDT
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Price: $9.15 -2.97%

Rating Summary:
    8 Buy, 5 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 13 | Down: 13 | New: 72
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(Updated - September 9, 2021 7:12 AM EDT)

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."

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 $9.39 yesterday.

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