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Analysts Bullish On Finisar Following Q1 Beat And Strong Outlook

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Analysts Bullish On Finisar Following Q1 Beat And Strong Outlook

On Friday, Finisar Corporation (NASDAQ: FNSR) shares reached a 52-week high of $27.50. The company's stock is one of the top favorites among investors for the day. There are three primary factors that likely contributed to the lifted investor sentiment.

3 Catalysts

    1. The company's first quarter adjusted EPS of $0.38 on revenue of $341.33 million came in above the Street predictions of $0.30 a share on revenue of $332.75 million.
    2. Finisar's second-quarter outlook of adjusted EPS of about $0.44–$0.50 on revenue of $355–$375 million are above the analysts' estimates of $0.32 per share on $342.91 million revenue.
    3. Various brokerages have upgraded the stock.

Related Link: Jefferies Sees Finisar Continuing To Benefit From Industry Trends Near Term

Analyst Updates

The following brokerages have given their rating on Finisar shares:

  • William Blair upgraded the stock to an Outperform rating.
  • MKM Partners upgraded the shares to a Buy rating and lifted the price target from $21 to $35.
  • Jefferies remains on the sidelines. However, the brokerage boosted the target price from $19 to $28.

At time of writing, Finisar was seen up 13.73 percent on the day, trading at $26.40.

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Latest Ratings for FNSR

DateFirmActionFromTo
Dec 2018DowngradesBuyHold
Dec 2018DowngradesBuyNeutral
Dec 2018MaintainsEqual-WeightEqual-Weight

View More Analyst Ratings for FNSR
View the Latest Analyst Ratings

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