Oclaro (OCLR): Soldout Conditions Until Year End, Raising PT - Needham
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Piper Jaffray Raises Price Target on Oclaro (OCLR) to $7.50 Following 4Q Beat and Raise
August 3, 2016 7:55 AM EDTPiper Jaffray reiterated an Overweight rating on Oclaro (NASDAQ: OCLR), and raised the price target to $7.50 (from $6.75), following the company's 4Q earnings report. Revenues of $125.2M increased 23.9% sequentially. Revenues were $5.6 million higher than the Street, and exceeded the high-end of the companys prior guidance ($115 123M). Oclaros upbeat results were driven by their 100G optical portfolio, which... More
