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Fly News Breaks for December 19, 2016
FNSR
Dec 19, 2016 | 09:03 EDT
As previously reported, Northland upgraded Finisar to Outperform from Market Perform with a $40 price target. Analyst Tim Savageaux said Finisar's $500M convert indicates the company is intent on pursuing scale horizontal consolidation the optical component sector. The analyst believes any deal would be met with an enthusiast market response given its over reliance on legacy datacom revenues, and multiple expansion would follow from higher growth rates as well as a more favorable industry competitive environment.
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