Jefferies Reiterates Underperform on Finisar Corporation Following Cisco Tech Launch
In a report published Monday, Jefferies analyst James Kisner reiterated an Underperform rating and $7.50 price target on Finisar Corporation (NASDAQ: FNSR).
In the report, Kisner noted, “Cisco formally launched their first line card leveraging silicon photonics technology from the Lightwire acquisition. We view this as incrementally negative for Finisar's Datacom business given that this announcement comes earlier than expected, and Cisco's use of CPAK modules appears broader than expected.”
Finisar Corporation closed on Friday at $14.64.
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