UPDATE: Stifel Nicolaus Reiterates Buy Rating, Lowers PT on Oplink Communications

In a report published earlier today, Stifel Nicolaus and Company, Inc. reiterated its Buy rating on Oplink Communications, Inc.

, but lowered its price target from $21.00 to $19.00. Stifel Nicolaus went on to say “We continue to view Oplink as an attractive investment given its low-cost manufacturing footprint, healthy free cash flow generation, and more positive industry dynamics as a leader in the passive optical industry (relative to the fragmented actives market).” Oplink Communications, Inc. closed on Friday at $13.53.