Piper Jaffray analyst Troy Jensen raised his price target on Infinera (INFN) to $12 after its Q1 earnings beat, saying he was particularly encouraged by the upside in reported revenue amid the ongoing ramp from the company's ICE4 product refresh and large customer wins in cable. The analyst believes Infinera is winning share across most of its markets while outpacing the growth rate of the industry, even though there is still uncertainty about the prospects of recovery for its top customer CenturyLink (CTL). Jensen keeps his Neutral rating on Infinera.