UPDATE: Citigroup Maintains Infinera at Neutral Following Analyst Day

Citigroup reiterated its Neutral/High Risk rating on Infinera 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.