Ryan Koontz, an analyst from Needham, maintained the Buy rating on Fabrinet. The associated price target was raised to $540.00.
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Ryan Koontz’s rating is based on Fabrinet’s strong financial performance and promising future prospects. The company reported first-quarter results that significantly exceeded market expectations, with revenue and earnings per share both surpassing consensus estimates. This growth was largely driven by a substantial increase in the telecom sector, particularly with contributions from major players like Ciena and Cisco.
Additionally, Fabrinet’s entry into the high-performance computing market, likely through Amazon’s Trainium board, is expected to further boost its revenues in the coming quarters. The anticipation of over $2 billion in new production capacity by the end of fiscal year 2026 also supports a positive outlook. These factors combined have led to an upward revision of financial estimates for the upcoming years, reinforcing the Buy rating.
In another report released on October 23, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $479.00 price target.