B. Riley Bumps Up Infinera Price Target By 15%; Turns Bullish

January 24, 2022 8:59 AM | 1 min read | Make a Comment

B. Riley analyst Dave Kang upgraded Infinera Corp INFN to Buy from Neutral with a price target of $11.50, up from $10, implying an upside of 44.65%.
The analyst believes the value of the company's digital signal processing technology is "significantly underappreciated" at current share levels.
As one of two providers of 800G products, the ramp of 800G will be a "major catalyst for multiple expansion," Kang notes.
The analyst's latest checks indicate demand remains robust and sees "strong demand/visibility" for Infinera.
Infinera is an optical transport equipment provider.
Price Action: INFN shares traded higher by 4.28% at $8.29 in the premarket session on the last check Monday.