Citi Lowers PT For Oclaro To $14.50 (OCLR)

Citi lowered its price target for Oclaro (NASDAQ: OCLR) from $15.00 to $14.50 in a research report published today.

Citi also stressed continuing positive outlook, however. The report states: "We believe underlying optical demand is still healthy. Supply chain disruptions aside, bandwidth demand continues to be robust by any measure." As a result, Citi left its Buy rating for Oclaro's shares.

In yesterday's trading, Oclaro's shares added 4.55% to their value to finish the day at $11.72.