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Fly News Breaks for March 11, 2019
INFN
Mar 11, 2019 | 07:10 EDT
MKM Partners analyst Michael Genovese upgraded Infinera to Buy from Neutral with a $6 price target following a "very upbeat" meeting with the company's CFO in San Diego last week. In a research note to investors, Genovese says it sounds like Infinera's order book, new wins and pipeline have all significantly improved recently and thinks the risk-reward for 2019 is skewed very positively with little downside on misses and a lot of upside if the company makes this year's numbers. The stock is very inexpensive, Genovese contends, and says fundamentals should be steadily improving in 2019.
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