Piper Jaffray analyst Troy Jensen said Fabrinet's below consensus guidance for the September quarter was highly anticipated given weakness previously reported by its customers and would argue that the company's forecast being down roughly 3% sequentially is significantly better than most in the optical space. The analyst, who expects 2018 to be the year Fabrinet experiences outsized growth in datacom sales, keeps an Overweight rating on the shares and would be a buyer on post-earnings weakness. Jensen lowered his price target on Fabrinet shares to $51 from $55.