Needham & Company Reiterates Bullish View on NeoPhotonics (NPTN)

Needham & Company analyst Alex Henderson reiterated a Buy rating and $10 price target on NeoPhotonics (NYSE: NPTN) after the company offered guidance on the CY4Q and CY1Q14.

Henderson comments, "Generally the news here is good. The demand conditions for coherent 100G look strong and strengthening. But there are offsets: the passive FTTx line is contracting and there are above normal start-up costs likely in CY14. We are reworking our numbers, which have been static since the end of CY3Q13 due to the lack of reporting. Our estimates are edging lower with the decline in passives off-setting stronger 100G and due to start-up costs for new products and lower margins on passives."

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

Shares of NeoPhotonics closed at $6.67 yesterday.

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