Finisar (FNSR) PT Raised to $44 at Needham & Company, Estimates Raised Sharply
Needham & Company analyst Alex Henderson reiterated a Strong Buy rating and raised his price target on Finisar (NASDAQ: FNSR) to $44.00 (from $42.00)
commented, " The upgrade to 25G/100G has barely even started, yet Finisar is already seeing a major impact. Finisar's results came in sharply above forecast, and the guidance is equally strong. We are thus sharply increasing our estimates and increasing our Price Target, and we reiterate our Strong Buy. Welcome to the Data Comm leg of the Super Cycle."
The firm is sharply raising estimates:
- CY17 revenues increase to $1,690MM from $1,577MM
- CY17 EPS increases to $2.54 from $1.90
- CY18 revenues increase to $1,878MM from $1,753MM
- CY18 EPS increases to $2.79 from $2.13
Shares of Finisar closed at $34.13 yesterday.