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Fly News Breaks for June 16, 2017
LITE, FNSR
Jun 16, 2017 | 05:36 EDT
Jefferies analyst James Kisner says Finisar's (FNSR) weaker than expected Q1 outlook was widely expected and that the company's expectations to ship tens of millions of units for 3D sensing in the October quarter is important. In a post-earnings research note titled "Who Cares About Q1 Guidance...Here Comes 3D Sensing! Reiterate Buy," Kisner argues Finisar's business will improve from here. He believes the talk around 3D sensing is also positive for Lumentum (LITE). The analyst keeps a Buy rating on Finisar with a $34 price target.
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