Fly News Breaks for April 9, 2019
Apr 9, 2019 | 07:43 EDT
Piper Jaffray analyst Troy Jensen lowered his estimates and price target for Applied Optoelectronics as he believes pricing pressure and weakened demand trends for datacom transceivers have persisted in the first half of 2019. Further, the company's exposure to 10/40G and high customer concentration creates additional risk and the likelihood of sustained pricing pressure, Jensen tells investors in a research note. He believes 2020 could be a better year for Applied Optoelectronics with anticipated growth in 100G, but feels near-term weakness will likely create pressure on the shares. As such, the analyst recommends avoiding the name and lowered his price target to $11 from $12. He keeps a Neutral rating on Applied Optoelectronics.
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