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Fly News Breaks for February 28, 2020
Feb 28, 2020 | 08:41 EDT
Rosenblatt analyst Ryan Koontz lowered the firm's price target on NeoPhotonics to $9 from $10 and keeps a Buy rating on the shares after the company reported "solid" Q4 results and gave Q1 revenue guidance that beat both his and consensus estimates. His price target change is due to longer-term risks, but he remains bullish on NeoPhotonics shares in the near-term as the company claims to have low impact if the de minimis export content guidelines were to shift and "surprisingly" expects only a slight impact to revenue from COVID-19 given its supply chain adjustments, Koontz tells investors.
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