Market Overview

UPDATE: Stifel Upgrades Fabrinet on Multiple Positive Factors


In a report published Thursday, Stifel analyst Patrick Newton upgraded the rating on Fabrinet (NYSE: FN) from Hold to Buy, and named a $20.00 price target.

In the report, Stifel noted, “We are upgrading shares of Fabrinet to Buy and establishing a $20 price target. Our positive view on shares is driven by: (1) our analysis indicating accelerating demand trends in both optical communications and commercial laser end markets over the next several quarters, (2) our research pointing to our above consensus F1Q14 (September) and F2Q14 (December) estimates as being too conservative, (3) recent asset sales by Fabrinet's largest customer, Oclaro, likely eliminating a material risk, (4) increasing confidence in Fabrinet's ability to expand its gross margin to its 12.0%-12.5% target range, (5) penetration into new customers/new end markets, and (6) attractive valuation.”

Fabrinet closed on Wednesday at $14.79.

Latest Ratings for FN

Oct 2020ScotiaBankMaintainsSector Perform
Aug 2020JP MorganMaintainsNeutral
Aug 2020Northland Capital MarketsDowngradesOutperformMarket Perform

View More Analyst Ratings for FN
View the Latest Analyst Ratings


Related Articles (FN)

View Comments and Join the Discussion!

Posted-In: Patrick Newton StifelAnalyst Color Upgrades Analyst Ratings

Latest Ratings

JNJCantor FitzgeraldMaintains200.0
PCTYJMP SecuritiesMaintains220.0
KMBRBC CapitalMaintains147.0
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.
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