Analysts Bullish On Finisar Following Q1 Beat And Strong Outlook

On Friday,

Finisar Corporation FNSR

shares reached a 52-week high of $27.50. The company's stock is one of the top favorites among investors for the day. There are three primary factors that likely contributed to the lifted investor sentiment.

3 Catalysts

The company's first quarter adjusted EPS of $0.38 on revenue of $341.33 million came in above the Street predictions of $0.30 a share on revenue of $332.75 million.
Finisar's second-quarter outlook of adjusted EPS of about $0.44–$0.50 on revenue of $355–$375 million are above the analysts estimates of $0.32 per share on $342.91 million revenue.
Various brokerages have upgraded the stock.

Analyst Updates

The following brokerages have given their rating on Finisar shares:

William Blair upgraded the stock to an Outperform rating.
MKM Partners upgraded the shares to a Buy rating and lifted the price target from $21 to $35.
Jefferies remains on the sidelines. However, the brokerage boosted the target price from $19 to $28.

At time of writing, Finisar was seen up 13.73 percent on the day, trading at $26.40.

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