Jefferies Downgrades Infinera Corp. (INFN) to Hold
We're inclined to come back to the name on share price dips?
Meaning they will be loading up before earnings.
Jefferies downgraded Infinera Corp. (NASDAQ: INFN) from Buy to Hold on valuation but raises its price target from $9 to $12. Shares are up 94% YTD.
"We think the risk/reward on Infinera shares is now balanced," analyst George C. Notter said. "At 1.9x EV/2014 sales – a reasonable premium to the group average. We're inclined to come back to the name on share price dips and/or further evidence of a significantly-better-than-expected top line trajectory."