Today Piper Jaffray started covering Finisar (FNSR) with an outperform rating and a $4 price target.
"We believe the stock was oversold following its July quarter earnings call and has created a compelling entry point."
Finisar is focused on the application of digital fiber optics to provide a broad line of high-performance, reliable, value-added optical subsystems for data networking and storage equipment manufacturers. Its line of optical subsystems supports a wide range of network applications, transmission speeds, distances, physical mediums and configurations.
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Disclaimer: I am long Finisar in both my newsletter and personal portfolios. I accumulated Finisar between $1.01 and $1.99 in my newsletter portfolio so I have significant gains at this time. I may sell or add to my position at any time. I will tell my newsletter subscribers when I sell, but I will not necessarily post about it online before or after.