Oclaro -4%, ACIA and LITE up as UBS starts opticals coverage [Seeking Alpha]
OCLARO (OCLR)
Last oclaro earnings: 11/8 04:05 pm
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US:NASDAQ Investor Relations:
investor.oclaro.com/investor-relations
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Source: Seeking Alpha
Oclaro -4%, ACIA and LITE up as UBS starts opticals coverageOclaro (NASDAQ:OCLR) is4% lower after UBS starts coverage at Sell, predicting a difficult year amid hot competition.In an initiation of optical equipment stocks, analyst Tejas Venkatesh expects Oclaro to miss revenue estimates with full-year revenue dropping 6% rather than 4% (unless China's market comes in better than expected). (h/t Bloomberg)UBS is departing from nearly a dozen Street Buy ratings in going to Sell on Oclaro. Meanwhile, it sees better exposure to the inter-data center market at Acacia Communications (ACIA+1.7%), which it's starting at Buy with a $50 price target (implying 38% upside).Venkatesh's price target on Oclaro is $5.50, implying 5% further downside from today's lower price.And he started Lumentum (LITE+3.2%) at Buyseeing 27% upside.Click to subscribe to real-time analytics on ACIANow read:Acacia Communications - Getting More Appealing, Not Pulling The Trigger Yet »
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