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Piper Jaffray Reiterates Overweight Rating on Finisar Following Recent Earnings/Mixed Results

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Daily Movers: AirMedia Soars; Uranium Energy Under Investigation
Raymond James Downgrades Finisar To Outperform

In a report published Friday, Piper Jaffray analyst Troy D. Jensen reiterated an Overweight rating and $26.00 price target on Finisar (NASDAQ: FNSR).

In the report, Piper Jaffray noted, “We rate Finisar with an Overweight rating and $26 price target. Our $26 price equates to 18x our CY14 operating income assumption plus cash. We believe an 18x multiple is appropriate given our belief in at least 18% operating income growth over the next 3-5 years. Risks to our price target include slower top-line growth, rising competition, ASP erosion, customer concentration and global CapEx slowdown.”

Finisar closed on Thursday at $20.50.

Latest Ratings for FNSR

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

View More Analyst Ratings for FNSR
View the Latest Analyst Ratings

Posted-In: Piper Jaffray Troy D. JensenAnalyst Color Reiteration Analyst Ratings

 

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