Market Overview

UPDATE: Stifel Nicolaus Reduces PT to $22 on Finisar Corporation; Soft End Demand

Share:
Related FNSR
Daily Movers: AirMedia Soars; Uranium Energy Under Investigation
Raymond James Downgrades Finisar To Outperform

Stifel Nicolaus lowers its price target from $24 to $22 on Buy-rated Finisar Corporation (NASDAQ: FNSR) as it reduces estimates on continued soft end demand.

Stifel Nicolaus comments, "Post earnings reports from the majority of Finisar's competitors and customers, and a round of checks into the health of the optical communication components and subsystems industry in the month of April, we are revisiting our thesis on shares of Finisar. Although reducing estimates, we conclude shares represent an attractive investment at current levels with our thesis on the name is intact, barring a macro slowdown of the 2008/2009 magnitude. Our research continues to indicate FNSR is one of the best positioned optical vendors given a combination of expected new product momentum, product breadth, and end market balance with eventual growth in revenue likely to drive meaningful operating leverage and sustainable above industry average gross margin."

FNSR closed at $14.39 on Friday.

Latest Ratings for FNSR

DateFirmActionFromTo
Jun 2015Raymond JamesDowngradesStrong BuyOutperform
Jun 2015B RileyMaintainsBuy
Jun 2015Raymond JamesMaintainsStrong Buy

View More Analyst Ratings for FNSR
View the Latest Analyst Ratings

Posted-In: Stifel NicolausAnalyst Color Price Target Reiteration Pre-Market Outlook Analyst Ratings

 

Related Articles (FNSR)

Around the Web, We're Loving...

Get Benzinga's Newsletters