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Fly News Breaks for July 25, 2016
OCLR, NPTN, LITE, FN
Jul 25, 2016 | 08:38 EDT
Needham analyst Alex Henderson raised his price target for Fabrinet (FN) to $48 from $45 and "solidly" recommends buying the stock as he thinks the company can deliver 30% plus growth with a slight bias to improving margins. However, Henderson believes that Fabrinet is unlikely to see the same type of margin leverage or valuation improvements as Lumentum (LITE), NeoPhotonics (NPTN) and Oclaro (OCLR). Needham has a Buy rating on Fabrinet's shares.
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