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Fly News Breaks for September 8, 2017
FNSR
Sep 8, 2017 | 05:43 EDT
Piper Jaffray analyst Troy Jensen Finisar's July quarter as mixed, with revenue and earnings in-line with expectations while the October quarter guidance came in well below consensus. The analyst believes China demand will start to slowly rebound with excess inventory being worked down. He anticipates a stronger recovery in China during 2018 with 100G metro upgrades likely to begin in the next six months. The analyst lowered his price target for Finisar shares to $26 from $30 and keeps an Overweight rating on the name.
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