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Fly News Breaks for February 25, 2019
INFN
Feb 25, 2019 | 07:16 EDT
MKM Partners analyst Michael Genovese upgraded Infinera to Neutral and raised his price target to $6.00 from $4.25, saying the company's commentary about new bookings was better than he expected. The analyst also cites the company's more optimistic view regarding "new opportunities in Optical, SDN/Data Networking and Services with Tier 1 carriers". Genovese further notes the management's view of significant backlog growth in Q4 and expectations for another increase in Q1, but warns that there is still "significant risk" to Infinera's 2019 revenue outlook being a "high hurdle".
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