Oclaro (OCLR): Locking In Orders Through '18 - Needham

Needham & Company analyst, Alex Henderson, reiterated his Strong Buy rating on shares of Oclaro (NASDAQ: OCLR) and maintained his price target of $14. The company already preannounced numbers that crushed ex[ectations with 64% revenue growth and EPS of $0.21 vs prior Street estimates of $0.13-0.14.

However, the news was the guidance: mgmt expects $156-164MM in CY1Q17/FY3Q17 Revenues, up 2-6% Q-Q in what's historically a down quarter due to slower seasonal conditions and the annual price reductions. OCLR's ability to grow QQ is indicative of strong industry demand and sold-out conditions in critical products.

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 $9.81 yesterday.

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