Needham & Company Reiterates Buy After Visiting with Infinera (INFN)

Needham & Company reiterated a Buy rating and $25.00 price target on Infinera Corp. (NASDAQ: INFN) after meeting with the company. Infinera is seeing solid demand conditions and strong uptake in the DCI market and is starting to see the synergies from the Transmode acquisition that is now just two quarters post deal.

Analyst Alex Henderson commented, "We visited Infinera and came away feeling pretty good about the company and the overall optical market. Infinera is seeing solid demand conditions and strong uptake in the DCI market and is starting to see the synergies from the Transmode acquisition that is now just two quarters post deal. We reiterate our Buy rating and $25 price target. Our price target reflects our growing confidence in the improving end market demand conditions, INFN's broader product line and opportunities in the Metro market and the strength of the DCI sector. We think our forecast for both revenues and margins are conservative. We also think INFN is likely to continue to expand revenues at double-digit rates and expand both gross margins and operating margins in CY16, CY17 and CY18."

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

Shares of Infinera Corp. closed at $15.63 yesterday.

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