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Fly News Breaks for August 8, 2019
INFN
Aug 8, 2019 | 09:28 EDT
As previously reported, Goldman Sachs analyst Rod Hall upgraded Infinera to Buy from Neutral after the company showed signs of stabilizing revenue following several quarters of deterioration. The analyst, who now thinks the company can achieve neutral cashflow by the end of the year, raised his price target on the stock to $6.80 from $3.80 using a multiple he said could be "conservative." While Infinera is not "completely out of the woods," Hall thinks it has reached a turning point that "merits a better valuation," he tells investors.
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