Stifel Nicolaus Lowers OCLR PT To $17

Stifel Nicolaus has issued a report lowering the Price Target On Oclaro Inc (NASDAQ: OCLR) from $18 to $17.

According to the report, "On April 5 after the market close, Oclaro preannounced its March quarter sales of $116.5 million versus our estimate of $127.0 million, consensus of $124.3 million and the company's prior guidance of $123-$131 million."

OCLR is Buy rated and closed yesterday at $11.18 a share.