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Fly News Breaks for June 15, 2018
FNSR
Jun 15, 2018 | 08:54 EDT
DA Davidson analyst Mark Kelleher raised his price target on Finisar to $26 and kept his Buy rating after its Q4 results. The analyst says that the EPS miss was driven by lower gross margins amid "continued price erosion of QSFP28-CWDM transceivers", but expects margins to recover in Q1 and beyond thanks to the ramp in 3D sensing and the cost initiatives undertaken in the company's QSFP28 manufacturing facility. Kelleher also expects Finisar's China demand to improve after a few more quarters of weakness.
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