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UPDATE: Stifel Nicolaus Raises PT to $20 on Finisar on Improving Industry Fundamentals

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Raymond James Downgrades Finisar To Outperform

Stifel Nicolaus reiterated its Buy rating on Finisar (NASDAQ: FNSR) and raised its price target from $18 to $20.

Stifel Nicolaus noted, "We anticipate 2013 will represent an improving optical communication industry environment relative to 2012 with the expectation: (1) carrier spending trends are poised for improvement (AT&T announcement, Sprint/Softbank, etc.), (2) the ecosystem for 100G is dramatically improved y/y given pricing pressure in 2012, merchant DSP and module vendors have qualified products, and major service providers (VZ and AT&T) discussing 100G deployments in the metro, and (3) investor expectations are low while sell side estimates have been significantly reduced, potentially primed for positive revisions through 2013 relative to material cuts through 2012."

Finisar closed at $16.37 on Friday.

Latest Ratings for FNSR

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

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Posted-In: Stifel NicolausAnalyst Color Price Target Intraday Update Analyst Ratings

 

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