Why Infinera Rallied Today
Shares of optical transceiver stock (NASDAQ: INFN) were climbing in Thursday trading, up 12.7% on the day.
The company reported earnings last night, and while the initial reaction after hours was negative, it appears investors took a more optimistic take on the release and commentary today. Also, given that a high percentage of Infinera's shares were sold short heading into the release, there may be some short covering going on as things turned out not as bad as feared.
In the second quarter, Infinera grew revenue 5.1% year over year to $376.2 million, with non-GAAP (adjusted) earnings per share near breakeven. Both figures slightly beat analyst estimates. Looking ahead, the company guided toward roughly flat results quarter-over-quarter for the September period.
Source Fool.com
Infinera Corp. Stock
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 27.27% compared to the current price of 5.5 € for Infinera Corp..
