UPDATE: Citigroup Maintains Infinera at Neutral Following Analyst Day
Citigroup reiterated its Neutral/High Risk rating on Infinera (NASDAQ: INFN) with a $6 price target.
Citigroup said, "Infinera hosted a well-attended Analyst Day in New York on 6-Dec-2012. The company walked through the advantages (from both a customer point of view as well as for INFN's longer-term financial model) of its PIC-based architecture and laid out the large and growing opportunities in the 100G market, highlighted by new DTN-X customer appearance. While we continue to believe INFN has a unique, differentiated technology and business model, we did not glean any incremental intermediate-term catalysts."
Infinera closed at $8.24 on Thursday.
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