Northland raised the firm’s price target on Applied Optoelectronics (AAOI) to $20 from $12.50 and keeps an Outperform rating on the shares. The firm is raising price targets on a pair of AI Data Center names following results from Nvidia Marvell Credo Technology as well as Fabrinet’s (FN) “breakout” fiscal Q4 report last Monday, the analyst tells investors. “Even after very strong moves,” last week’s events and analysis “point to a much larger than expected AI connectivity market” measured in billions of dollars of revenues and millions of units.
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