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Fly News Breaks for March 3, 2017
OCLR
Mar 3, 2017 | 07:03 EDT
Piper Jaffray analyst Troy Jensen said he would be a buyer of Oclaro at current levels following its recent pullback, as he sees several near-term catalysts, including a likely settlement with ZTE, favorable commentary coming at an industry trade show and its report of March quarter results. Additionally, he believes Oclaro has limited exposure to troubled product areas at Huawei and views inventory concerns as overblown. Jensen reiterates an Overweight rating and $15 price target on Oclaro shares.
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