Oclaro (OCLR): Needham Raises PT After Company Visit

Needham & Company analyst, Alex Henderson, reiterated his Strong Buy rating on shares of Oclaro (NASDAQ: OCLR) and raised his price target to $10 from $8 after visiting with the company.

The analyst believes Oclaro is seeing strong and strengthening demand, rapid uptake and rapidly ramping capacity in the key ACO product line, and extending visibility with sharply rising margins. The analyst believes his estimates could be conservative as he expects Oclaro to continue to "beat and raise."

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

Shares of Oclaro closed at $7.71 yesterday.

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