Buy Finisar (FNSR) on Weakness - Needham & Company

Needham & Company analyst Alex Henderson reiterated a Strong Buy and $31 price target on Finisar (NASDAQ: FNSR) after yesterday's 6.8% sell-off on the back of a Jefferies' downgrade, telling clients to buy on weakness.

Henderson commented, "Maintaining Strong Buy on FNSR even with some near-term turbulence. We think Finisar is still a Buy here - We continue to rate FNSR Strong Buy. We are not expecting a great quarter as the pressures noted on the April quarter conference call in June are still present. Longer term, we think this weak period will likely prove to be a good entry point as the longer term fundamentals remain good. The current quarter looks so-so."

For an analyst ratings summary and ratings history on Finisar click here. For more ratings news on Finisar click here.

Shares of Finisar closed at $18.94 yesterday.

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