Analysts Raise Fabrinet Price Target Post Q1 Beat

November 2, 2021 5:26 PM | 1 min read |

Analysts raised their price targets on Fabrinet FN post Q1 beat.
Needham analyst Alex Henderson raised the PT to $130 from $125, implying 16% upside, and maintained a Buy.
Henderson notes that the company posted a "strong" print with revenue growth driven by its Optical business.
B. Riley analyst Dave Kang raised the PT to $96 from $85, implying a 13% downside, and affirmed a Neutral rating on the shares following the "solid beat-and-raise" for fiscal Q1.
Demand remained robust in Q1, and the company has "strong visibility for multiple quarters. The analyst noted his Neutral rating is based on valuation.
Price Action: FN shares closed higher by 13.16% at $111.21 on Tuesday.