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Fly News Breaks for April 11, 2018
FNSR
Apr 11, 2018 | 07:19 EDT
Goldman Sachs analyst Doug Clark believes Finisar fundamentals remain challenged and continue to see downside risk to Street estimates. The analyst reiterates a Sell rating on the shares, with a $15 price target, as he believes Datacom competition and price pressure will continue to weigh on revenues, margins, and profits. Over the next few months, Clark expects peer Q1 earnings results to reflect broader weakness in both Telecom and Datacom component end markets. Further, the analyst also notes that revenue growth remains the more prominent lever for margins, with Finisar exhibiting over a 70% correlation between revenues and gross margins.
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