UPDATE: Morgan Stanley Raises PT to $25 on Finisar

Morgan Stanley raises its price target on Overweight-rated Finisar CAVM to $25 from $19 as stable demand balances the company's margin headwinds. Morgan Stanley notes, "OW-rated FNSR remains our favorite play on optical heading into earnings on Wed., and we raise our PT to $25 from $19. While we expect an in-line quarter as demand appears stable and China appears to be rebounding, growth in WSS ROADMs, 40G, and tunable XFPs should drive margins and rev growth." CAVM closed at $23.02 a share yesterday.
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Posted In: Analyst ColorPrice TargetReiterationPre-Market OutlookAnalyst RatingsMorgan Stanley
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