Collins Stewart Starts Fabrinet (FN) at Neutral; Optical Outsourcing Leader
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Price: $611.01 +4.94%
Rating Summary:
12 Buy, 6 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 5 | Down: 11 | New: 27
Rating Summary:
12 Buy, 6 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 5 | Down: 11 | New: 27
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Collins Stewart initiates coverage on Fabrinet (NYSE: FN) with a Neutral. PT $20.00.
Collins analyst says, "We believe Fabrinet’s business model is fairly unique, long-term demand drivers in its end-markets are favorable & the multi-quarter inventory correction in the optical comms market appears to be abating. In addition, FN is diversifying into lasers & sensors, smaller but growing faster & could add 3%-8% LT to top-line growth. However, sustained macro uncertainty could negatively impact telecom service provider capex making us more cautious on the shares in the near-term. As visibility on demand beyond the next two quarters improves we'd look to be more constructive on the shares."
For more ratings news on Fabrinet click here and for the rating history of Fabrinet click here.
Shares of Fabrinet closed at $17.52 yesterday.
Collins analyst says, "We believe Fabrinet’s business model is fairly unique, long-term demand drivers in its end-markets are favorable & the multi-quarter inventory correction in the optical comms market appears to be abating. In addition, FN is diversifying into lasers & sensors, smaller but growing faster & could add 3%-8% LT to top-line growth. However, sustained macro uncertainty could negatively impact telecom service provider capex making us more cautious on the shares in the near-term. As visibility on demand beyond the next two quarters improves we'd look to be more constructive on the shares."
For more ratings news on Fabrinet click here and for the rating history of Fabrinet click here.
Shares of Fabrinet closed at $17.52 yesterday.
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