These Analysts Revise Their Forecasts On Fabrinet After Q2 Results - Fabrinet (NYSE:FN)

Fabrinet (NYSE:FN) reported upbeat second-quarter results on Monday.

Revenue was $833.6 million, beating the consensus of $814.3 million. Adjusted EPS of $2.61 exceeded the consensus of $2.50.

"Our telecom performance was very strong and benefited from both increasing demand for datacenter interconnect products as well as early progress from recent systems wins," Seamus Grady, Chief Executive Officer of Fabrinet, said. "While datacom demand has slightly moderated near-term we continue to anticipate more rapid growth as next-generation products ramp production. With several positive trends, we are very optimistic as we look to the third quarter and beyond."

Fabrinet expects third-quarter FY25 revenue of $850 million – $870 million, surpassing street view of $825.72 million. The company also projects adjusted EPS of $2.55 – $2.63 vs. street view of $2.55.

Fabrinet shares fell 9.6% to trade at $203.79 on Tuesday.

These analysts made changes to their price targets on Fabrinet following earnings announcement.

JP Morgan analyst Samik Chatterjee maintained Fabrinet with a Neutral and lowered the price target from $275 to $265.
Barclays analyst George Wang maintained Fabrinet with an Equal-Weight and lowered the price target from $292 to $245.
Rosenblatt analyst Mike Genovese maintained the stock with a Buy and raised the price target from $280 to $285.
Needham analyst Ryan Koontz, meanwhile, reiterated Fabrinet with a Buy and maintained a $280 price target.

Considering buying FN stock? Here’s what analysts think:

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