Piper Jaffray Reiterates Overweight on Finisar

Piper Jaffray is out with its report today on Finisar (NASDAQ: FNSR), reiterating Overweight.

In its report, Piper Jaffray writes, "We continue to recommend Finisar as one of our favorite plays in opticals and believe recent ROADM traction, ramping Tunable-XFP sales, improving trends at Hauwei and a better demand environment in 2012 will lead to capital appreciation in FNSR shares."

Piper Jaffray maintains a $22 PT on FNSR.

Shares of FNSR closed Friday at $19.00.