Fly News Breaks for November 5, 2019
Nov 5, 2019 | 05:33 EDT
Piper Jaffray analyst Troy Jensen raised his price target for Fabrinet to $68 from $64 saying the company reported "strong" September quarter results with revenue and earnings beating expectations, and with guidance for the December quarter also above consensus estimates. The analyst adds that with telecom driving the beat and datacom "looking to have bottomed out," he continues to view Fabrinet as one of the better ways to play the optical market. He reiterates an Overweight rating on the shares.
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