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Fly News Breaks for June 11, 2018
ZTCOY, ACIA
Jun 11, 2018 | 09:21 EDT
Loop Capital analyst James Kisner raised his price target on Acacia Communications (ACIA) to $42, saying he is adding back the sales estimates related to ZTE (ZTCOY) now that an agreement with the U.S. Commerce Department has been reached. The analyst further states that he has taken a "relatively conservative" approach to modeling the ZTE contribution, while maintaining his view that "Acacia technology and exposure to the build-out of carrier metro networks, hyperscale data center interconnect, and the increasing use of coherent technology in ever-shorter distances in networks" justify a Buy rating.
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