Jefferies Initiates Coverage On FNSR

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Jefferies is initiating coverage on Finisar
FNSR
at a Buy rating and a price target of $23. In the report, Jefferies writes, “We are initiating research coverage of Finisar (
FNSR
) with a Buy Rating and a $23.00 price target. We believe that Street expectations for Finisar are overly bearish given the temporary nature of the industry-wide inventory correction that began late 2010 / early 2011 and our checks indicating that underlying demand for optical systems, ROADMs, and fiber cabling remain strong.” FNSR closed at $16.78 yesterday.
Posted In: Analyst ColorInitiationAnalyst RatingsCommunications EquipmentInformation TechnologyJefferies & Co.
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