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Fly News Breaks for February 7, 2017
FNSR, OCLR
Feb 7, 2017 | 07:33 EDT
Craig-Hallum analyst Richard Shannon says that Oclaro (OCLR) and Finisar (FNSR) have a couple of things in common, namely their latest reported quarters yielded a multi-year or all-time high gross margin, and the stock prices imply gross margins will decline during 2017. The analyst "very much" disagrees and thinks both companies are likely to report gross margin in the June/July quarters that will exceed what they just reported. If that occurs, Shannon believes both stocks will be 15%-30% higher than current levels. The analyst recommends that investors buy both stocks at current levels, and reiterates a Buy rating on both stocks.
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