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