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Fly News Breaks for March 15, 2017
NPTN
Mar 15, 2017 | 07:29 EDT
Piper Jaffray analyst Troy Jensen finds the valuation of NeoPhotonics attractive following the company's "surprisingly weak" Q1 guidance. The next phase of the China 100G upgrade has been delayed by at least three months and is creating a pause in China demand, Jensen tells investors in a post-earnings research note. The analyst remains a buyer of the stock on the belief that demand in China returns and datacom remains strong. He lowered his price target for NeoPhotonics to $9 from $12.50 and reiterates an Overweight rating on the name.
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