Rosenblatt Securities analyst Ryan Koontz maintained a Hold rating on Infinera (INFN) today and set a price target of $6. The company’s shares opened today at $4.86, close to its 52-week low of $3.54.
Koontz said:
“We take a more positive perspective on the company’s clarity of product and market strategy and reinstate a price target at $6. We meaningfully decrease our 1Q19 revenue/earnings estimates (by -3.9%/-$0.08) and meaningfully decrease our FY2019 estimates (by -3.7%/-$0.37).”
According to TipRanks.com, Koontz is a 4-star analyst with an average return of 17.8% and a 72.2% success rate. Koontz covers the Consumer Goods sector, focusing on stocks such as Acacia Communications, CommScope Holding, and Juniper Networks.
Currently, the analyst consensus on Infinera is a Moderate Buy with an average price target of $6.50.
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The company has a one-year high of $12.39 and a one-year low of $3.54. Currently, Infinera has an average volume of 2.62M.
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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.
