Raymond James analyst Simon Leopold raised the firm’s price target on Applied Optoelectronics (AAOI) to $39 from $17 and keeps an Outperform rating on the shares following the company’s capital raise. The transaction improves that balance sheet, and the firm sees the action as a favorable signal regarding fundamentals, the analyst tells investors in a research note. With expanded capacity and new awards, Raymond James believe Applied Optoelectronics can secure at least 5% of the AI transceiver market.
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