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Fly News Breaks for January 29, 2018
NPTN
Jan 29, 2018 | 04:52 EDT
Piper Jaffray analyst Troy Jensen downgraded NeoPhotonics to Neutral while maintaining a $7 price target for the shares. The analyst sees risk from China's intention to have less dependency on North American optical component suppliers. Further, he points out that optical stocks typically perform better during upgrade cycles and that the100G cycle has likely peaked. Jensen believes the industry will have to wait for the 400G cycle to drive meaningful revenue growth, margin expansion and stock price appreciation.
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