Applied Optoelectronics gleams as Raymond James turns bullish
** Shares of Applied Optoelectronics AAOI.O up 6.2% premarket to $12.05, a six-week high, after Raymond James upgrades optics and laser maker to "outperform" from "market perform"
** Brokerage sets PT at $17, implying 50% upside to stock's last close
** AAOI has opportunities in data center transceivers and cable TV amplifiers markets, which are both "primed for "unprecedented material growth", Raymond James writes in note
** In data center, co has disclosed new hyperscale awards and sells to 3 of the top 5, Raymond James says, noting Microsoft MSFT.O and Amazon.com AMZN.O having been recent 10% customers
** Brokerage cautions execution risk remains, but adds AAOI as among the most likely cos in its coverage to experience upward estimate revisions
** 3 of 4 brokerages rate AAOI "buy" and 1 rates "hold" with median PT of $16, per LSEG data
** Through Fri close, shares have lost 41% YTD vs Nasdaq's 18% advance
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
</body></html>Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
