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Fly News Breaks for November 2, 2016
OCLR
Nov 2, 2016 | 07:02 EDT
Piper Jaffray analyst Troy Jensen raised his price target for Oclaro to $13 citing the company's "outstanding" Q1 results. Revenue, margins and earnings all came in ahead of expectations, while Oclaro also guided Q2 sales "comfortably above consensus," Jensen tells investors in a post-earnings research note. He believes upside still exists to estimates from the 100G cycle and keeps an Overweight rating on the shares.
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