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Benzinga
Benzinga
Business
Anusuya Lahiri

B. Riley Bumps Up Infinera Price Target By 15%; Turns Bullish

Infinera
  • B. Riley analyst Dave Kang upgraded Infinera Corp (NASDAQ:INFN) to Buy from Neutral with a price target of $11.50, up from $10, implying an upside of 44.65%.
  • The analyst believes the value of the company's digital signal processing technology is "significantly underappreciated" at current share levels. 
  • As one of two providers of 800G products, the ramp of 800G will be a "major catalyst for multiple expansion," Kang notes. 
  • The analyst's latest checks indicate demand remains robust and sees "strong demand/visibility" for Infinera.
  • Infinera is an optical transport equipment provider.
  • Price Action: INFN shares traded higher by 4.28% at $8.29 in the premarket session on the last check Monday.
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