Rosenblatt Securities Believes Infinera (NASDAQ: INFN) Won’t Stop Here

By Ryan Adsit

Rosenblatt Securities analyst Marshall Senk maintained a Buy rating on Infinera (NASDAQ: INFN) on April 13 and set a price target of $13. The company’s shares closed on Friday at $11.34, close to its 52-week high of $12.38.

Senk noted:

“We view INFN as a highly focused company in a promising segment within broader challenged networking industry experiencing disruption. INFN has es- tablished itself as a global industry leader in two of the three markets in which it competes. The company has a successful, but inconsistent track record in both sales and product development of optical systems, often experiencing strong product cycles around customer wins and innovation cycles, including its current market position in 1Q18. While much of the broad telecom industry is experiencing flat to declining spending, optical transport is increasingly garner- ing increased wallet share among service providers (SPs) as well as hyperscale cloud builders.”

According to TipRanks.com, Senk is a 5-star analyst with an average return of 23.4% and a 80.3% success rate. Senk covers the Technology sector, focusing on stocks such as Synacor Inc, Splunk Inc, and Box Inc.

Infinera has an analyst consensus of Moderate Buy, with a price target consensus of $12.

The company has a one-year high of $12.38 and a one-year low of $6.10. Currently, Infinera has an average volume of 1.73M.

Based on the recent corporate insider activity of 31 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of INFN in relation to earlier this year.

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Infinera Corp. engages in the provision of optical transport networking equipment, software, and services to telecommunications carriers. Its products include long-haul and subsea, metro networks, data center interconnect, and software. The company was founded by David F.