Goldman Adds Infinera to Conviction Buy List

Shares of

are trading higher by 4.5 percent to $8.99 after Goldman Sachs added the stock to its conviction buy list. Analyst Simona Jankowski expects optical industry revenue growth “to accelerate due to the transition of 100G and rising network infrastructure investment.” Infinera is best positioned to capitalize on significant industry consolidation “given its strong DTN-X 100G product cycle, outsized exposure to Web 2.0 customers, and discount EV/S relative to optical peers,” according to the analyst. Jankowski has a $11.50 price target on the stock.