Why Infinera Is Tanking Today
Despite reporting expectation-topping results, shares of Infinera (NASDAQ: INFN), a maker of optical-equipment, fell 23% as of 11:35 a.m. EST on Thursday. Investors can blame the plunge on a surprise restructuring plan and weak guidance.
Here's an overview of headline numbers from the company's third quarter:
This represents the company's fourth quarter in a row of showing a big net loss. In an effort to right the ship, management surprised investors by announcing a companywide restructuring plan.
Source: Fool.com
Infinera Corp. Stock
€5.40
-0.920%
We see a rather positive sentiment for Infinera Corp. with 9 Buy predictions and 1 Sell predictions.
As a result the target price of 7 € shows a positive potential of 29.63% compared to the current price of 5.4 € for Infinera Corp..
