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Why Fabrinet Stock Jumped Today [The Motley Fool]

FABRINET (FN)  More Company Research Source: The Motley Fool
Last fabrinet earnings: 5/7 04:15 pm Check Earnings Report
US:NYSE Investor Relations: investor.fabrinet.com/investor-relations
PDF The optics specialist surged on a bullish analyst note. Jeremy Bowman ( TMFHobo ) Jun 26, 2017 at 6:09PM What happened Shares of  Fabrinet  ( NYSE:FN ) were soaring today after the optical communications services specialist received a bullish analyst note and a price hike. The stock closed up 15.5%. So what  Needham & Company analyst Alex Henderson lifted his price target from $56 to $60 and maintained his "strong buy" rating after meeting with Fabrinet management for two days. Henderson was particularly excited about new customers  Tesla Motors  and  Amazon.com , whose cloud-computing division is set to become a customer of Fabrinet.  Henderson went on to say that Tesla and Amazon alone should drive 10% revenue growth next year, and projected the company's overall revenue growth around 20% next year. Image source: Fabrinet. [Read more]

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