Skip to main content

Market Overview

Piper Jaffray Reiterates Buy on Finisar, Reduces PT to $22

Share:

Piper Jaffray reiterated its Buy rating on Finisar (NASDAQ: FNSR). At the same time, Piper Jaffray lowered its price target on the company's stock from $31 to $22 following a downward revision of its earnings per share estimates for the next two years.

In a research report published today, Piper Jaffray states, "Despite the recent setback, we continue to believe the optical space is poised to benefit from a pending upgrade cycle and are advising investors to be buyers on the pullback. Finisar should see incremental revenues over the next few quarters as new products and vendor qualifications generate sales along with an eventual recovery in Chinese demand. We are reiterating our Overweight rating on shares of FNSR but lowering our PT to $22 from $31."

On Wednesday, Finisar lost 6.68% of its value to close the day at $17.73. Its shares are having even worst time in today's pre-market trading, however, as Finisar faltered after its shares plunged 16.47% to $14.81.

 

Related Articles (FNSR)

View Comments and Join the Discussion!

Posted-In: Finisar Piper JaffrayAnalyst Color Price Target Analyst Ratings

Latest Ratings

StockFirmActionPT
COSTOppenheimerMaintains350.0
COOBairdMaintains384.0
AMGNBarclaysMaintains230.0
BURLDeutsche BankMaintains320.0
BURLBairdMaintains325.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com