- 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.
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