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Finisar Shares Respond to Raymond James Upgrade

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Shares of Finisar (NASDAQ: FNSR) respond to Raymond James analyst Simon Leopold's upgrade from Outperform to Strong Buy and reiterated a $29.00 price target.

Leopold reported that Finisar's datacom segment is benefiting from strong tailwinds including copper to optical migration, increasing contributions from Web 2.0, healthy datacenter capex. The analyst estimates datacom growth of a possibly conservative 14% in 2014. Raymond James added that the telecom segment may positively surprise in 2014 with growth driven by improved spending in Asia.

Finisar closed at $23.26 on Thursday and was up 3.8% in pre-market trading. Shares are currently at $24.18, up 3.96%.

Latest Ratings for FNSR

DateFirmActionFromTo
Jun 2016JefferiesMaintainsHold
Jun 2016BarclaysMaintainsEqualweight
Mar 2016Craig-HallumUpgradesHoldBuy

View More Analyst Ratings for FNSR
View the Latest Analyst Ratings

Posted-In: Raymond James Simon LeopoldAnalyst Color Upgrades Reiteration Analyst Ratings

 

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