B.Riley FBR analyst Dave Kang reiterated a Buy rating on Infinera (INFN) yesterday and set a price target of $10.50. The company’s shares closed last Monday at $8.03.
According to TipRanks.com, Kang is a top 100 analyst with an average return of 22.6% and a 69.3% success rate. Kang covers the Technology sector, focusing on stocks such as Applied Optoelectronics, DASAN Zhone Solutions, and Acacia Communications.
Infinera has an analyst consensus of Hold, with a price target consensus of $8.50, which is a 1.2% upside from current levels. In a report issued on August 5, Rosenblatt Securities also upgraded the stock to Buy with a $10.50 price target.
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The company has a one-year high of $9.25 and a one-year low of $3.68. Currently, Infinera has an average volume of 3.53M.
Based on the recent corporate insider activity of 19 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of INFN in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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. The company was founded by David F. Welch, Drew Daniel Perkins, and Jagdeep Singh in December 2000, and is headquartered in Sunnyvale, CA.
