Thomas Weisel Partners Raises Finisar (FNSR) Price Target To $16
Thomas Weisel Partners analysts Ajit Pai and Sven Eenmaa maintained their Overweight rating for shares of Finisar Corporation (Nasdaq: FNSR), while raising the price target from $14 to $16.
The company provided guidance well above Thomas Weisel Partners' and Wall Street's estimates.
The analysts responded by raising their earnings estimate, as well as Finisar Corporation's price target.
The Thomas Weisel Partners analysts wrote that, "the demand environment continues to be robust for FNSR for both LAN/SAN and telecom/metro products with clearly faster than expected growth near-term leading the company to add capacity. While many investor questions centered on FNSR’s gross margin outlook, particularly given the guided flattish F4Q10 performance despite materially higher sales, FNSR’s and its competitor’s commentary indicates that the optical component industry’s multi-year pricing paradigm takes a long time to change, and FNSR’s comments on annual price reductions were similar to recent peer commentary."
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