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Fly News Breaks for November 4, 2016
NPTN
Nov 4, 2016 | 10:21 EDT
Piper Jaffray analyst Troy Jensen said NeoPhotonics reported "solid" growth for its 100G portfolio but noted that a bankrupt channel partner caused its revenue and earnings to fall short of expectations. Jensen still forecasts 25% year-over-year revenue growth for the company in FY17, but off of a lower FY16 base, leading him to cut his price target to $16 from $20. He keeps an Overweight rating on NeoPhotonics shares, as he expects a "more meaningful ramp in 100G" in 2017.
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