Finisar (FNSR) Provides Light Guide Post 2Q - Jefferies Remains Sidelined
Jefferies reiterated a Hold rating and $13.25 price target on Finisar (NASDAQ: FNSR) following the company's 2Q earnings report. Revenue increased 2% to $321M, above the Street's $314M. Q2 EPS hit $0.25, above Consensus of $0.23. FQ3 revenue and EPS guidance of ~$310M and $0.22 were below Consensus ($319M, $0.24).
Analyst James Kisner commented, "Q2 results were solid driven chiefly by Telecom strength; the big surprise was T-XFP, but WSS/ROADM was also strong. Another positive was the early ramp of 100G QSFP28 in Datacom. Guidance was a bit light and the company still expects a challenging front half of CY16 followed by growth driven by 100G Telecom and Datacom. We remain concerned about an increasingly competitive Datacom market. Maintain Hold."
For an analyst ratings summary and ratings history on Finisar click here. For more ratings news on Finisar click here.
Shares of Finisar closed at $11.64 yesterday.