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Fly News Breaks for November 13, 2019
INFN
Nov 13, 2019 | 07:41 EDT
JPMorgan analyst Samik Chatterjee upgraded Infinera (INFN) to Neutral from Underweight with an unchanged price target of $7. The analyst believes Infinera's recent Coriant acquisition execution is going to make investors more willing to "position themselves for the upside" from the company achieving profitability metrics similar to larger competitor Ciena (CIEN). Infinera's Q3 print and outlook comprised of "several key positives which drive higher confidence on a smoother execution trajectory," Chatterjee tells investors in a research note.
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