Fabrinet Q4 Reflects AI Momentum And New Client Wins, These Analysts Raise Their Forecasts
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Shares of Fabrinet (NYSE:FN) skyrocketed in early trading on Tuesday, after the company reported results for its fiscal fourth quarter.
The results came amid an exciting earnings season. Here are some key analyst takeaways.
- JPMorgan analyst Samik Chatterjee reiterated a Neutral rating, while raising the price target from $240 to $285.
- Needham analyst Alex Henderson maintained a Buy rating, while lifting the price target from $270 to $280.
Check out other analyst stock ratings.
JPMorgan: Fabrinet’s Datacom business had been the source of upside in recent quarters, driven by tailwinds related to AI investments. Analysts were surprised that the company’s non-Datacom businesses drove its better-than-expected performance in the fiscal fourth quarter.
This was “led by DCI demand and new system wins in Telecom as well as the dissipation of inventory headwinds associated …
Full story available on Benzinga.com
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