In a report released yesterday, Dave Kang from B.Riley FBR reiterated a Hold rating on Infinera (NASDAQ: INFN), with a price target of $9.50. The company’s shares closed yesterday at $8.69.
According to TipRanks.com, Kang is a 5-star analyst with an average return of 17.8% and a 62.2% success rate. Kang covers the Consumer Goods sector, focusing on stocks such as Applied Optoelectronics, Acacia Communications, and Lumentum Holdings.
Currently, the analyst consensus on Infinera is a Hold with an average price target of $10.29, implying a 18.4% upside from current levels. In a report issued on July 24, MKM Partners also maintained a Hold rating on the stock with a $10 price target.
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Based on Infinera’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $21.94 million. In comparison, last year the company had a GAAP net loss of $42.84 million.
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Infinera Corp. engages in the provision of optical transport networking equipment, software, and services to telecommunications carriers. Its products include long-haul and subsea, metro networks, data center interconnect, and software.
