Piper Jaffray Maintains Overweight, $22 Target on Finisar

In a published report, Piper Jaffray reiterates its Overweight rating and $22 target price on Finisar Corporation (NASDAQ: FNSR) in light of recent price pullback and end market softness.

Piper Jaffray comments, “The recent floods in Thailand should have a negligible direct impact to Finisar but industry wide supply chain disruptions could impact January quarter revenues. In addition, recent negative reports of Huawei demand brings question to the demand side. As a result of the recent pullback in share price, we believe shares of FNSR currently reflect an appropriate risk/reward trade-off in light of questions surrounding industry supply and demand.”

FNSR closed at $16.73 per share on Friday, down 0.83 percent.