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Fly News Breaks for March 3, 2016
CIEN, NPTN
Mar 3, 2016 | 12:14 EDT
Craig-Hallum analyst Richard Shannon attributes today's selloff in shares of NeoPhotonics (NPTN) to Ciena's (CIEN) "poor" earnings reports and below consensus guidance. The analyst points out that Ciena, which was a 21% customer for NeoPhotonics in 2015, said 100G optical port growth was strong and 200G ports were at an all-time high. Shannon recommends buying NeoPhotonics on today's weakness and keeps a Buy rating on the name with a $16 price target.
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