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Fly News Breaks for August 20, 2019
INFN, FN
Aug 20, 2019 | 06:37 EDT
Piper Jaffray analyst Troy Jensen lowered his price target on Fabrinet (FN) to $64 after its below-consensus Q1 outlook related to concerns about the industrial laser market remaining weak. The analyst also points to the Huawei ban hampering sales for component supplies. Jensen still keeps his Overweight rating, stating that Fabrinet remains "one of the better ways to play the optical market" and forecasting more sustained strength in Telco optics and a ramp in Infinera (INFN) sales.
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