UPDATE: Jefferies Downgrades Infinera on Valuation
In a report pubilshed on Monday, Jefferies analyst George C. Notter downgraded Infinera (NASDAQ: INFN) from Buy to Hold and raised the price target on the company from $9 to $12.
In the report, Jefferies stated, "There's no denying that current business trends at Infinera are very good right now. On the Q1 EPS conference call, CEO Tom Fallon noted that the pipeline of potential customer additions / RFP processes remains “robust.” These statements are now embedded in the current psychology around the stock as well as forward-looking expectations."
Infinera closed on Friday at $11.24.
Latest Ratings for INFN
|Jan 2017||PiperJaffray||Initiates Coverage On||Neutral|
|Sep 2016||Stifel Nicolaus||Initiates Coverage on||Hold|
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.