Needham & Company raised its price target on Infinera Corp. (NASDAQ: INFN) to $13.50 (from $12.50) while maintaining a Strong Buy rating.

Analyst Alex Henderson comments "We were too early trying to call the bottom on INFN. The Strong Buy was a mistake when we put it on. But we now believe that the company has troughed, estimates have bottomed out and that INFN is poised to rebound results. The rating now finally seems more appropriate."