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Fly News Breaks for August 8, 2019
INFN
Aug 8, 2019 | 08:04 EDT
Raymond James analyst Simon Leopold upgraded Infinera to Market Perform from Underperform following a relatively in-line quarter and guidance. In a research note to investors, Leopold notes that while he does not consider the quarter a "clean print," he is encouraged by Infinera's traction with its new hyperscale win and its ability to seize Tier 1 awards. Although he believes the company continues to face large obstacles, Leopold says he has become more comfortable with the strategy and see limited downside below 0.5X EV to sales.
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