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Fly News Breaks for October 11, 2016
INFN, ACIA, FNSR, LITE
Oct 11, 2016 | 05:33 EDT
Goldman Sachs analyst Doug Clark downgraded Lumentum (LITE) to Sell saying product substitution and competition are risks to the company's "premium" valuation. Lumentum is slightly behind competitors in terms of timing of new product ramp, Clark tells investors in a research note. His $36 price target represents 19% downside. The analyst this morning also upgraded Finisar (FNSR) to Buy and kept Neutral ratings on Acacia Communications (ACIA) and Infinera (INFN) in a research note on the Optical Components space.
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