Todays Upgrade
Piper Sandler analyst Troy Jensen raised the firm's price target on NeoPhotonics to $14 from $9 and keeps an Overweight rating on the shares. The company reported "impressive" Q1 results with revenues and earnings comfortably exceeding consensus expectations despite COVID-19 headwinds, Jensen tells investors in a research note. The analyst believes telco demand will remain strong throughout 2020 and beyond with carriers prepping for 5G wireless services.
About the company
NeoPhotonics Corp. engages in the design, manufacture, and sale of hybrid photonic integrated optoelectronic modules and subsystems for bandwidth-intensive communications networks. Its product portfolio includes pluggable coherent modules, coherent-components, 100G/400G client transceivers, optical switching, high speed ICs, 100G / 400G laser devices and light engines, passive components, network monitoring and control, and 10G and low rate components. The company was founded on October 31, 1996 and is headquartered in San Jose, CA.
Piper Sandler analyst Troy Jensen raised the firm's price target on NeoPhotonics to $14 from $9 and keeps an Overweight rating on the shares. The company reported "impressive" Q1 results with revenues and earnings comfortably exceeding consensus expectations despite COVID-19 headwinds, Jensen tells investors in a research note. The analyst believes telco demand will remain strong throughout 2020 and beyond with carriers prepping for 5G wireless services.
About the company
NeoPhotonics Corp. engages in the design, manufacture, and sale of hybrid photonic integrated optoelectronic modules and subsystems for bandwidth-intensive communications networks. Its product portfolio includes pluggable coherent modules, coherent-components, 100G/400G client transceivers, optical switching, high speed ICs, 100G / 400G laser devices and light engines, passive components, network monitoring and control, and 10G and low rate components. The company was founded on October 31, 1996 and is headquartered in San Jose, CA.