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FN

Fabrinet

$52.05

-1.86 (-3.45%)

05:24
01/24/19
01/24
05:24
01/24/19
05:24

Fabrinet price target raised to $61 from $56 at Piper Jaffray

Piper Jaffray analyst Troy Jensen believes Fabrinet will report December quarter results above consensus expectations and provide "favorable" March quarter guidance given the strength in telco optics and improving trends in datacom. He also believes Fabrinet's silicon photonics exposure will provide a "sustained tailwind for growth." The analyst raised his estimates and would be a buyer of the stock at current levels. Jensen boosted his price target for Fabrinet shares to $61 from $56 and reiterates an Overweight rating on the name.

  • 04

    Feb

FN Fabrinet
$52.05

-1.86 (-3.45%)

12/18/18
PIPR
12/18/18
NO CHANGE
Target $56
PIPR
Overweight
Fabrinet among the 'better' optical stocks to own, says Piper Jaffray
Piper Jaffray analyst Troy Jensen kept his Overweight rating and $56 price target on Fabrinet after meeting with its CEO and CFO. The analyst says the discussions have left him "increasingly confident" in the company's investment story, adding that he believes that Fabrinet is well positioned to "experience industry leading growth." Jensen further states that CEO Seamus Grady "evolved into a thoughtful, driven leader" in his short time at the helm and expects Fabrinet to see "strong underlying near-term demand for telco optics".
12/18/18
PIPR
12/18/18
NO CHANGE
PIPR
Cisco's Luxtera deal negative for Finisar and Applied Opto, says Piper Jaffray
Piper Jaffray analyst James Fish notes that the $660M acquisition of Luxterra announced by Cisco (CSCO) yesterday will have "mostly negative" impact on datacom focused optical transceiver suppliers Finisar (FNSR) and Applied Optoelectronics (AAOI). For the former, the analyst notes that Finisar generates about 75% of revenues from datacom transceivers and has frequently experienced Cisco as a 10% plus customer, adding that the vertical integration of the deal will diminishing Cisco's need for merchant transceivers. For the latter, the analyst notes that while Applied Optoelectronics does not "directly sell these components", the Luxterra deal shrinks its market and may lead to more aggressive price moves by the competitors. Fish also sees Fabrinet (FN) as a direct beneficiary of the Luxterra deal given its position as its contract manufacturer that stands to benefit "as Cisco ramps production of SiP transceivers."
12/18/18
NEED
12/18/18
NO CHANGE
Target $62
NEED
Buy
Fabrinet price target raised to $62 from $58 at Needham
Needham analyst Alex Henderson raised his price target on Fabrinet (FN) to $62 and kept his Buy, citing the recent commentary from Ciena (CIEN) regarding "strong optical demand" as well as his site visits to Lumentum (LITE) and NeoPhotonics (NPTN). The analyst believes that Fabrinet is "well positioned" as companies move out of China" and look for production alternatives, while its recent acquisitions in the optical space should "add business to Fabrinet". Henderson further notes that the global demand for optical products is looking "robust".
11/06/18
PIPR
11/06/18
NO CHANGE
Target $56
PIPR
Overweight
Fabrinet price target raised to $56 from $52 at Piper Jaffray
Piper Jaffray analyst Troy Jensen raised his price target for Fabrinet to $56 saying the company "posted another strong quarter beating expectations across the board." Fabrinet's fiscal Q1 results confirm that the Telco side of optics and select datacom segments are experiencing the beginnings of an upgrade cycle, Jensen tells investors in a post-earnings research note. He believes the company's growth rates will continue to accelerate over the next several quarters and keeps an Overweight rating on the name.

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